New Zealand Report 2024

Like other OECD countries, New Zealand has been experiencing high inflation rates due in part to increased government spending during the COVID-19 pandemic, global supply chain disruptions, near-full employment and geopolitical conflicts. Although inflation levels in New Zealand have been somewhat lower than the OECD average (7.2% compared to 9.5% in 2022), the rising prices for goods and services have exacerbated existing social inequalities.