Billi Cherise

Current Inflation Rate 2024 Nz. Our main tool to help keep inflation low and stable is the official cash rate, which influences how expensive it is to borrow money from the bank. The monetary policy committee today agreed to cut the official cash rate (ocr) to 4.75 percent.

Consumers price index (cpi) inflation occurs when the prices of a range of goods and services rise on average. The inflation rate year over year is 2.2% (compared to 3.3% for the previous quarter).