New Zealand Household Living Costs Rise 3 Percent Annually
New Zealand household living-costs price indexes rose 3 percent annually for the September 2026 quarter, diverging from the broader consumer price index due to falling mortgage costs.
The Government of New Zealand reported that household living-costs price indexes (HLPIs) for the September 2026 quarter rose by 0.6 percent for all households. On an annual basis, inflation for the average household increased by 3.0 percent.
Impacts varied by demographic group. Superannuitants faced the highest quarterly increase at 1.0 percent and the highest annual increase at 4.0 percent. In contrast, beneficiaries and Māori households saw a quarterly increase of 0.3 percent, while the highest-expenditure group recorded the lowest annual increase at 2.5 percent.
These figures diverge from the broader Consumers Price Index (CPI), which reported annual inflation of 3.7 percent for the country. The difference is primarily driven by how housing is measured. The HLPIs track mortgage interest payments, which decreased by 10.3 percent for the average household over the year. Conversely, the CPI tracks the cost of building new homes, which increased by 3.2 percent.
