Source: Stats NZ ·Observation: Q2 2026 ·Release: Jul 20, 8:45 AM AEST·Prior actual: 0.6%
High impactQuarterly consumer price inflation for New Zealand, a primary input into OCR expectations and NZD rates pricing.
| Metric | MoM | YoY |
|---|---|---|
| Median | 1.0 | 7.8 |
| Average | 1.0 | 7.8 |
| Range | 0.4–2.0 | 7.1–8.5 |
How widely contributor forecasts differ, and how many were surveyed.
Std Dev
Contributors
12
Dots show contributors. Hover for name and forecast.
MoM Median 1.0%
YoY Median 7.8%
| Contributor | Previous MoM | MoM | Revision | Previous YoY | YoY | Revision | Updated |
|---|---|---|---|---|---|---|---|
| ANZ Bank | 0.8 | 1.2 | +0.4 | 7.5 | 7.9 | +0.4 | 5 Jul 2026 |
| Bank of America | 0.9 | 0.8 | -0.1 | 7.6 | 7.5 | -0.1 | 5 Jul 2026 |
| Bloomberg Economics | 1.0 | 1.0 | - | 7.8 | 7.8 | - | 5 Jul 2026 |
| Capital Economics | 0.5 | 0.6 | +0.1 | 7.3 | 7.4 | +0.1 | 4 Jul 2026 |
| Commonwealth Bank | 1.1 | 1.3 | +0.2 | 7.8 | 8.0 | +0.2 | 5 Jul 2026 |
| Goldman Sachs | 1.5 | 1.8 | +0.3 | 8.0 | 8.3 | +0.3 | 5 Jul 2026 |
| HSBC | 1.0 | 0.9 | -0.1 | 7.8 | 7.7 | -0.1 | 4 Jul 2026 |
| JPMorgan | 1.0 | 1.1 | +0.1 | 7.8 | 7.9 | +0.1 | 5 Jul 2026 |
| Macquarie Group | 0.6 | 0.4 | -0.2 | 7.3 | 7.1 | -0.2 | 5 Jul 2026 |
| National Australia Bank | 1.0 | 1.0 | - | 7.8 | 7.8 | - | 5 Jul 2026 |
| UBS Securities Australia | 1.7 | 2.0 | +0.3 | 8.2 | 8.5 | +0.3 | 5 Jul 2026 |
| Westpac Bank | 0.8 | 0.7 | -0.1 | 7.7 | 7.6 | -0.1 | 5 Jul 2026 |
Prior actual
0.6%
Latest actual
Pending
12-month average
0.7%
Surprise vs forecast
Available after release
Actual, surprise and revision history will update when Stats NZ publishes the release.