New Zealand household living costs increased 2.2% in the 12 months to December 2025, according to Stats NZ. This follows a 2.4% rise in the previous quarter and marks a decline from the 8.2% peak in December 2022. The HLPIs, which track inflation impacts on 13 household groups, showed lower growth than the 3.1% CPI inflation rate. Falling interest payments offset higher construction costs, with average household interest expenses dropping 17.3% annually. Superannuitant households faced the highest inflation at 3.8%, driven by 8.8% rate increases and 20.3% health insurance hikes. Lower-spending households experienced 3.7% inflation, with electricity costs contributing 28% of their rise. Higher-spending households saw 0.8% inflation, aided by reduced mortgage interest payments. Rent growth of 1.9% primarily affected beneficiary and Māori households.
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