Open data, plainly explained
The Real Economy is an independent civic data project. We take official New Zealand economic statistics and present them in plain language, with full source attribution, timestamps, and, where data is not yet live, clearly labelled sample values.
Methodology
Where the data comes from
Indicators are drawn from public sources: Statistics New Zealand (CPI, unemployment, wages, and median household income), the Reserve Bank of New Zealand (the Official Cash Rate and several other rates, currently via a manually-entered, audited fallback while automated access is pending), MBIE (fuel demand and imports, market rent, and pump prices/crude oil/the exchange rate, the latter parsed exactly from a manually-downloaded file while automated access to it is also blocked), Employment New Zealand (the adult minimum wage), the Living Wage Movement Aotearoa New Zealand (the voluntary Living Wage rate), and the Ministry for Cities, Environment, Regions and Transport (median house price). Each indicator stores its own source name, URL, and update timestamp.
How charts are calculated
Indexed charts rebase every series to 100 at the start of the chosen baseline year, so very different measures (cents per litre, index points, dollars) can be compared on one axis. “% change since 2020” is always measured from the first observation of 2020 to the latest observation.
Live data vs. sample data: read this
Most indicators on this site are now live: CPI, annual inflation, unemployment, wages and wage inflation, median rent, fuel demand and imports, median household income and median house price are all fetched directly from their official sources and re-validated on every ingestion run. The Official Cash Rate and several other RBNZ rates are verified too, through a manually-entered, audited fallback rather than a fully automated feed - and pump prices, crude oil and the NZD/USD exchange rate are live the same way, parsed exactly from MBIE's own published file rather than typed in by hand. The adult minimum wage is live too, transcribed from Employment New Zealand's own published rate history, and the Living Wage is live from the Living Wage Movement's published rate, though currently only one point deep since no historical file exists for it. A remaining set of indicators are still sample data or not yet tracked at all, never presented as current, and always labelled wherever they appear:
The backend runs automated ingestion: a sources table tracks every feed’s update cadence and last-checked timestamp, an ingestion-runs log records each import attempt, and indicators are flipped from sample to live one at a time as each source is wired up: see the table below for exactly where each source stands.
Limitations
Indicators are published at different frequencies (weekly, monthly, quarterly). Comparisons across series use each series’ most recent observation at or before a given date, so small timing mismatches are possible. The CPI measures price change, not the absolute cost of living.
Data sources
All data published under open licences. Each indicator lists its own source and licence terms on the page where it appears.
How derived figures are calculated
Raw observations are the exact values published by the official source. Derived indicators are calculated by The Real Economy from one or more raw observations - never entered by hand. Every derived indicator on this site documents its formula here.
Brent crude oil price (NZD)
crude-oil-usd (USD/bbl) divided by nzd-usd (USD per NZD), calculated by The Real Economy. Inherits the data status of its inputs.
CPI inflation (annual)
Year-on-year percentage change of the CPI All Groups index (raw indicator: cpi), calculated by The Real Economy from Stats NZ's published index.
CPI inflation (quarterly)
Quarter-on-quarter percentage change of the CPI All Groups index (raw indicator: cpi), calculated by The Real Economy from Stats NZ's published index.
Wage growth (annual)
Annual percentage change of the Labour Cost Index (raw indicator: wage-index), as published by Stats NZ.
Real wage growth
"Real" wage growth means wage growth after accounting for inflation - what your pay can actually buy, not just the number on the payslip. We calculate it as the percentage change in the wage index minus the percentage change in the CPI over the same period:
real wage growth ≈ (% change in wage index) − (% change in CPI)
This is an approximation that holds well for the moderate inflation rates seen in New Zealand; it is not compounded geometrically. See the Wages page for the live comparison.
Housing affordability (price-to-income ratio)
We calculate the house-price-to-income ratio as the median house price divided by median annual household income, both for the same period:
price-to-income ratio = median house price ÷ median household income
A ratio above 5 is conventionally considered "severely unaffordable" internationally, though this convention was not designed specifically for the New Zealand market. Estimated mortgage repayments (see the Housing page) assume a standard 30-year table loan and are illustrative, not a quote from any lender.
Privacy
This site collects nothing beyond what your browser or the hosting infrastructure sends automatically: standard server request logs (IP address, page requested, timestamp), the same as almost any website. There are no cookies, no user accounts, and no personal data is stored anywhere in this project's database.
One thing adds to that slightly. Cloudflare Web Analytics counts page views in aggregate, without cookies or fingerprinting, to give a rough sense of which pages get read. It isn't used for advertising or to build a profile of individual visitors.
If ads are ever added to this site, this page will be updated first, and any third-party ad network's own data practices will be disclosed here honestly.
Source update status
When automated ingestion is enabled, this table shows when each source was last checked and last updated successfully.
| Source | Update frequency | Last checked | Last successful update |
|---|---|---|---|
| Employment New Zealand (MBIE) | annual | 11 Sep 2026 | 11 Sep 2026 |
| Living Wage Movement Aotearoa New Zealand | annual | 13 Sep 2026 | 13 Sep 2026 |
| MBIE Energy Statistics | weekly | 15 Sep 2026 | 13 Sep 2026 |
| MBIE Oil Statistics | quarterly | 5 Sep 2026 | 5 Sep 2026 |
| MBIE Tenancy Services (Market Rent) | monthly | 15 Sep 2026 | 15 Sep 2026 |
| Ministry for Cities, Environment, Regions and Transport (MCERT) | monthly | 15 Sep 2026 | 15 Sep 2026 |
| REINZ | monthly | 26 Aug 2026 | 26 Aug 2026 |
| Reserve Bank of New Zealand (RBNZ) | monthly | 13 Sep 2026 | 13 Sep 2026 |
| Stats NZ | quarterly | 13 Sep 2026 | 13 Sep 2026 |
| Tenancy Services (MBIE) | monthly | 26 Aug 2026 | 26 Aug 2026 |
| U.S. Energy Information Administration | monthly | 26 Aug 2026 | 26 Aug 2026 |