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Prices are rising faster than pay rates

Updated

Consumer prices rose 4.1% in the year to the June 2026 quarter. Pay rates for the same jobs rose 2.0%. Prices have risen faster for five quarters in a row.

4.1%Consumer prices
2.0%Pay rates

Pay rates come from the pay rates for the same job, which tracks pay for the same job over time. It leaves out raises from promotions and job changes, so it is not the same as average earnings.

Explore the data behind this chart
Annual % changeConsumer prices (CPI)Pay rates (LCI)
Annual % change. Consumer prices (CPI), Sep 2020 qtr to Jun 2026 qtr, latest 4.1%. Pay rates (LCI), Sep 2020 qtr to Jun 2026 qtr, latest 2.0%.0%2%4%6%8%Peak 7.3%202120222023202420252026
June 2026 quarterPrices 4.1%Pay rates 2.0%
Annual % change. Consumer prices (CPI): 4.1% in Jun 2026 qtr. Pay rates (LCI): 2.0% in Jun 2026 qtr.

Source: Stats NZ, consumers price index and pay rates for the same job (salary and wage rates), quarterly.

The general election is on 7 November. Here is how New Zealand has changed since the last one.

Luxon's government took office on 27 November 2023. These compare the last reporting period before the 14 October 2023 election with the latest period. Economic shocks, global conditions and earlier decisions also affect the figures. How we choose the periods.

Earlier periods end before the last election, except crime, which compares the 2023 survey with the latest survey. after inflation house prices show only the percentage change.
MeasureEarlier valueLatest valueChange
Inflation (annual prices (inflation))5.6% (Sep 2023 qtr)4.1% (Jun 2026 qtr)Down 1.6 percentage points
Unemployment rate3.9% (Sep 2023 qtr)5.6% (Jun 2026 qtr)Up 1.7 points, worse
typical weekly rent, new rentals$575 (Jul 2023)$590 (Jul 2026)Up $15.00
after inflation house prices (OECD index)Sep 2023 qtrMar 2026 qtrDown 8.0%
net government debt, % of the economy38.7% of the economy (2022/23)41.8% of the economy (2024/25)Up 3.1 points
Planned surgery within 4 months63.4% (Jun 2023 qtr)72.6% (Jun 2026 qtr)Up 9.2 points, better
Adults victimised by crime31.6% (2023)27.5% (2025)Down 4.1 points, better
after inflation the economy per person$54,496 (Year to Mar 2023)$53,138 (Year to Mar 2026)Down $1,358, worse
Election promisesCompare governments on any measureTake the quiz

Eight numbers that matter this election

Each number has a source, a period and a page where you can check it.

Petrol costs 17.9% more than a year ago

Petrol was slightly cheaper than a year earlier in January and February 2026. From March the annual rise jumped, peaking at 30.1% in April.

30.0%+1.8%Sept 25+2.6%Oct+2.8%Nov+1.4%Dec−4.8%Jan 26−6.0%Feb+13.9%Mar+30.1%Apr+28.7%May+23.6%Jun+15.1%Jul+17.9%Aug0.0%
Aug 2026: 17.9%
Petrol costs 17.9% more than a year ago: 17.9% in Aug 2026.

Petrol prices, % change on the same month a year earlier, September 2025 to August 2026. Source: Stats NZ selected price indexes.

+45.8%Diesel, August 2026 on a year earlier
+1.9%Food prices over the same twelve months
1.9%Woolworths NZ earnings before interest and tax, as a share of sales, year to June 2026
Petrol, groceries and supermarket profits

Download the data behind every chart

Every chart here comes from an official dataset you can download. Compare governments on any measure, or take a dataset into the AI assistant you already use.

Explore datasetsCompare governments
net government debtThe Treasury · 1991/92 to 2024/25CSV · JSONConsumers price indexStats NZ · quarterly since 1914CSV · JSONtypical weekly rent by regionMBIE Tenancy Services · monthlyCSV · JSON

80 datasets from 8 organisations

Net government debt is 41.8% of the economy

That was $182.2 billion at 30 June 2025. It was 18.6% of the economy in 2018/19 and climbed through the pandemic years.

Net core Crown debt, % of GDP. Net debt, 2004/05 to 2024/25, latest 41.8%.0%20%40%5.4% in 2007/082004/052024/25
Net core Crown debt, % of GDP. Net debt: 41.8% in 2024/25.

Net government debt, % of the economy, years to 30 June. Source: the Treasury.

government spending, tax and debt

Rents have held at $590 a week for a year

That is the typical for new rentals in July 2026. In July 2019 it was $450.

$4502019$4702020$5002021$5402022$5752023$6002024$5902025$5902026
Jul 2026: $590
Rents have held at $590 a week for a year: $590 in Jul 2026.

Typical weekly rent, new rentals, each July. Source: MBIE Tenancy Services.

Rents, house prices and building

Every health target improved this year

None has reached its 2030 goal yet. Planned surgery moved the most.

Cancer treatment in 31 days87.0%
Immunised at age 283.7%
Emergency department under 6 hours76.3%
Specialist within 4 months66.1%
Planned surgery within 4 months72.6%

April to June 2026. Dashed mark: 2030 target. Source: Health New Zealand.

Waiting times, cancer care and nurses

Unemployment has risen to 5.6%

It was 3.2% at the end of 2021. In June 2026, 413,691 people received a working-age main benefit.

Unemployment rate. Unemployment, Sep 2021 qtr to Jun 2026 qtr, latest 5.6%.0%2%4%6%Sep 2021Jun 2026
Unemployment rate. Unemployment: 5.6% in Jun 2026 qtr.

Seasonally adjusted. Sources: Stats NZ, Ministry of Social Development.

Jobs, wages and benefits

Fewer adults report being victims of crime

27.5% in the 2025 survey, down from 31.6% in 2023. It counts crime whether or not anyone told the Police.

Adults victimised in the past year. Adults victimised, 2018 to 2025, latest 27.5%.02018: 29.6%2018202120232025
Adults victimised in the past year. Adults victimised: 27.5% in 2025.

Adults victimised in the past 12 months. 2019 and 2020 are in older releases. Source: Ministry of Justice.

Crime, courts and prisons

The economy grew 2.6% over the past year

The economy per person after inflation was $53,138 in the year to March 2026, 0.3% higher on the year before.

0.0%−4.3%Sept 21+4.1%Dec−0.1%Mar+1.0%Jun+1.9%Sept+0.3%Dec−0.1%Mar+0.9%Jun+0.1%Sept+0.5%Dec0.0%Mar−0.5%Jun−1.2%Sept+0.1%Dec+0.8%Mar−0.6%Jun+0.9%Sept+0.5%Dec+0.9%Mar+0.2%Jun0.0%
Jun 2026 qtr: 0.2%
Real GDP, growth from the previous quarter: 0.2% in Jun 2026 qtr.

Seasonally adjusted quarterly after inflation the economy growth. Source: Stats NZ.

Economic growth, incomes and population

Tax took 27.9% of the economy last year

That compares with 27.1% ten years earlier.

Core Crown tax revenue, % of GDP. Core Crown tax revenue, 1993/94 to 2024/25, latest 27.9%.0%10%20%30%40%New accounting basis, 1996/97New accounting basis, 2004/051993/942024/25
Core Crown tax revenue, % of GDP. Core Crown tax revenue: 27.9% in 2024/25.

Tax, % of the economy, since 1993/94. Lines break at changes in accounting basis. Source: the Treasury.

Changes do not show what any government caused. Economic shocks, global conditions and earlier decisions all play a part. How we compare periods.

tax revenue

64,966 New Zealanders left for 12 months or more in the past year

That compares with 65,225 a year earlier. These count people migrating for at least 12 months; the latest estimates are provisional.

New Zealand citizen departures, annual. New Zealand citizens: departures (unadjusted), Year to Jul 2016 to Year to Jul 2026, latest 64,966.020,00040,00060,00080,000Year to Jul 2016Year to Jul 2026
New Zealand citizen departures, annual. New Zealand citizens: departures (unadjusted): 64,966 in Year to Jul 2026.

Unadjusted migration estimates. Source: Stats NZ.

New Zealand citizen migration

The government spent $26,607 per person in 2024/25

We divide the national totals by the population to put them on a human scale. Figures are for the year to 30 June 2025 and are not after inflation.

$26,607Government spending per person
$22,855Tax collected per person
$34,212Net government debt per person

Our calculation: Treasury core Crown figures divided by Stats NZ's population estimate at 30 June 2025.

How much government debt is there per person?

More ways to look at the numbers

Compare across governments and countries, or take the raw figures and run your own analysis.

Compare governmentsAny measure, term by term, with the caveats that matter.New Zealand and the worldPrices, incomes and services beside other countries.Election promisesChecked commitments from National and Labour leaders.QuizExplore what the figures say.All 80 datasetsDownload CSV or JSON, with the source and licence for each.Analyse with AIDownload a dataset and get a prompt for the assistant you use.