Annual inflation at 2.7 percent in June 2025 – media release
21 July 2025
Aotearoa New Zealand’s consumers price index (CPI) increased 2.7 percent in the 12 months to the June 2025 quarter, according to figures released by Stats NZ today.
The 2.7 percent increase follows a 2.5 percent annual increase in the 12 months to the March 2025 quarter.
“Although the annual inflation rate increased from the March 2025 quarter, it remains within the Reserve Bank of New Zealand’s target band of 1 to 3 percent – the fourth consecutive quarter it has done so,” prices and deflators spokesperson Nicola Growden said.
The largest upwards contributor to the annual inflation rate was local authority rates and payments, up 12.2 percent. Rates contributed 13 percent of the 2.7 percent annual increase.
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