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.

The exact date of when monthly CPI data will begin will be announced in late July. 

Alongside monthly inflation data, 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.

And 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.

Stats NZ will still be publishing a quarterly CPI but Jason Attewell, general manager of macroeconomic statistics at Statistics New Zealand, said "collecting monthly CPI or producing monthly CPI is not just the same as dividing quarterly CPI by three and putting it out".

Stats NZ would be changing the way it collected prices data - it would be setting up a direct data collection from large retailers, setting up electronic feeds to minimise respondent burden, purchasing more data and expanding its web scraping. 

Attewell said the agency had been working closely with the Reserve Bank (RBNZ) on these changes.

Other economic reporting the data collection agency plans do includes monthly economic activity indicators based on GST by industry to match its GDP industries.

RBNZ chief economist Paul Conway said the central bank was fully supportive of "all work undertaken to improve the range and quality of official information".

"Frequent and timely releases of high-quality data are the bedrock for sound policy decisions and meaningful research. The Bank has long advocated for the introduction of a monthly CPI and we look forward to seeing it published from next year."

‘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 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.”

'Allows Government decisions to follow the facts'

Minister of Statistics Scott Simpson said: "More frequent data on prices, growth, trade, and activity provides a more accurate picture of what’s happening in the economy and allows Government decisions to follow the facts."

"Our statistics need to keep up with the diversity of our growing economy.

"Sectors like digital services, software, and data are now a much bigger part of economic activity, and our measurement systems need to reflect their contributions. The changes announced today include creating new monthly measures of economic activity across industries such as construction or manufacturing."

"These changes will bring New Zealand’s economic data into line with updated international standards by 2030. This ensures our statistics are trusted and comparable with how other countries measure their economies," he said.