New Zealand Q1 2026 inflation: CPI q/q 0.9% (expected 0.8%) CPI 3.1% y/y (expected 2.9%)

This is just a data post.

New Zealand Q1 consumer price index

• +0.9% q/q (expected +0.8%, prior +0.6%)
• +3.1% vs year ago (expected +2.9%, prior +3.1%)
• Non-tradables +1.1% q/q
• Non-tradables +3.5% y/y

A shorthand way of thinking about 'non tradeables' is domestically generated inflation.

I'll have more to come on this separately, details and implications. ADED:

• result underscores the stickiness of inflation

NZD jumped: