Statistics NZ to provide more economic statistic reporting, including monthly CPI, so 'New Zealanders have a clear and reliable picture of how our economy is working'

Statistics New Zealand will be providing more data on NZ’s economic activity, with monthly Consumer Price Index (CPI) data set to begin in 2027.

And from late 2027, the data collection agency will provide 25 new monthly industry indicators on economic activity as well as improvements to “balance of payments statistics”, it says.

From 2028, key measures that feed into gross domestic product (GDP) will be released and by 2030, it’s expected that NZ’s official macroeconomic statistics will align with new international standards, Statistics NZ says.

This comes as Statistics NZ received a funding boost from Budget 2025 to produce more economic statistic reporting.

‘Reducing risks of policy errors during shocks’

Currently, NZ is the only OECD (Organisation for Economic Co-operation and Development) country without a monthly CPI. And when GDP figures are published, they have one of the longest lags in the OECD, according to the OECD’s 2026 Economic Survey of NZ report.

The report said: “Quarterly GDP volatility is so high that it often fails to reflect underlying economic conditions, leading policymaking institutions to rely more on labour market indicators to assess the output gap.”

“Modernising statistics to deliver monthly CPI and faster, more reliable GDP estimates is therefore essential. Real‑time indicators help central banks and finance ministries adjust interest rates, manage inflation expectations, and calibrate fiscal policy, reducing risks of policy errors during shocks.”

With the CPI being reported quarterly, this has frustrated Reserve Bank (RBNZ) policymakers in the past. Former RBNZ Governor Adrian Orr previously said he had taken the case for monthly CPI funding directly to the prime minister, as well as expressing his views at a public select committee hearing.

At the time, he also said it had been difficult to correctly assess inflation pressure in the economy with misleading GDP figures that were later revised significantly.

‘Our economy is changing quickly’

Government statistician and Statistics NZ chief executive Colin Lynch said these changes were about making sure NZ’s core economic statistics keep pace with a rapidly changing world.

“Our economy is changing quickly. Things like digital services, the AI revolution, and new business models are all changing how value is created and exchanged,” Lynch said.

“Official statistics need to keep pace with that rapid change so New Zealanders have a clear and reliable picture of how our economy is working, and can make informed decisions."

“That means understanding everything from what is happening to prices, how the economy is growing and changing and different industries are performing, to how money flows between New Zealand and the rest of the world,” said Lynch.

These measures affected every New Zealander, he said.

“They help shape decisions about interest rates, government spending, business investment, wages, contracts, and household budgets.”