NZ Business Pulse
As of 29 Oct 2026 the Official Cash Rate is 2.75%. Annual inflation was 3.7% in the Sep 2026 quarter. New Zealand card spending fell 0.5% in Sep 2026 after seasonal adjustment, and was up 1.2% on a year earlier (about $9.19 billion for the month).
Built from official sources: Reserve Bank of New Zealand and Stats NZ. Figures refresh automatically.
Official Cash Rate
2.75%
raised from 2.5% on 3 Sep 2026 · 29 Oct 2026 · RBNZ
Annual inflation (CPI)
3.7%
all groups, vs same quarter last year · Sep 2026 · Stats NZ
Card spending vs last year
+1.2%
all industries, before seasonal adjustment · Sep 2026 · Stats NZ
Card spending, monthly change
−0.5%
seasonally adjusted · Sep 2026 · Stats NZ
Card spending in the month
9.19bn
total electronic card spending · Sep 2026 · Stats NZ
Interest rates
Official Cash Rate and 90-day bank bill rate, % a year, since 2021
Annual inflation
Consumers price index, all groups, % change on same quarter a year earlier
Card spending
All electronic card spending, % change on same month a year earlier
Where prices are rising
Annual inflation by CPI group, latest quarter
Where spending is growing
Card spending by industry, % change on a year earlier, latest month
What this means for your business
- Borrowing costs: the Official Cash Rate at 2.75% steers the rates banks charge on business loans and overdrafts. Compare it with the 90-day bank bill rate above, which markets use to price short-term business lending.
- Your prices: inflation of 3.7% a year is the benchmark customers and suppliers measure rises against. Transport is rising fastest (+10.2%).
- Customer spending: Consumables spending is growing fastest (+3%); Apparel is weakest (−5.2%). Card spending is a good early read on retail and hospitality demand.
Data tables
Inflation by group
| Group | Change on a year earlier |
|---|---|
| Transport | +10.2% |
| Education | +4.8% |
| Communication | +4.7% |
| Housing and utilities | +3.4% |
| Health | +3% |
| Alcohol and tobacco | +2.7% |
| Recreation and culture | +2.4% |
| Food | +2.1% |
| Other goods and services | +2% |
| Household contents | +1.6% |
| Clothing and footwear | +1.4% |
Card spending growth by industry
| Group | Change on a year earlier |
|---|---|
| Consumables | +3% |
| Motor vehicles | +0.4% |
| Durables | +0.3% |
| Services | −0.9% |
| Hospitality | −4.4% |
| Apparel | −5.2% |
Sources and method
Reserve Bank of New Zealand (Free to use with attribution); Stats NZ, Consumers price index and Electronic card transactions (CC BY 4.0). Annual changes are calculated by NZ Business Alliance by comparing each period with the same period one year earlier. Card spending covers electronic card transactions only. Raw series are available as CSV by series ID. Data built 2026-10-30.