New Zealand's economy in June 2026
The figures published in June 2026: new releases from Stats NZ, the Reserve Bank and other official sources, plus what fuel prices did over the month.
Published · Corrected : House prices and rents have moved to the edition for the month they were actually published, and every figure now shows the period it covers. This edition was compiled when the monthly report launched, so its figures include any revisions made before then.
The month in brief
- The economy grew 0.9% in the March 2026 quarter, and was 1.7% larger than a year earlier.
- Regular 91 petrol averaged 312.5c a litre in June, down from 323.4c in May.
- Filled jobs rose 0.2% in May to 2.35 million (seasonally adjusted), and were 0.4% higher than in May 2025.
- Retail card spending rose 1.6% in May to $7.09 billion (seasonally adjusted), and was 3.3% higher than in May 2025.
- Food prices were up 1.0% in May, and 3.2% higher than a year earlier.
Food and power
Food prices were up 1.0% in May, and 3.2% higher than a year earlier.
Of the staples we track, butter moved most in May, rising 11.2% to $8.07.
Household electricity prices were up 1.4% in May, and 12.1% higher than a year earlier.
Full charts: Grocery prices
| Figure | Period | Latest | Change | On a year earlier |
|---|---|---|---|---|
| Food prices, change over the month | May 2026 | +1.0% | +3.2% | |
| Butter (500g) | May 2026 | $8.07 | +11.2% | −4.2% |
| Milk (2 litres) | May 2026 | $5.06 | +4.1% | +10.7% |
| Eggs (dozen) | May 2026 | $8.98 | +2.6% | −7.1% |
| White bread (600g) | May 2026 | $2.35 | +4.4% | +39.9% |
| Cheese (1kg) | May 2026 | $13.03 | +3.7% | −0.1% |
| Takeaway coffee | May 2026 | $5.21 | 0.0% | +5.0% |
| Electricity prices, change over the month | May 2026 | +1.4% | +12.1% |
Source: Stats NZ. Grocery prices are Stats NZ's national average prices across stores and brands.
Fuel
Regular 91 petrol averaged 312.5c a litre in June, down from 323.4c in May.
Diesel averaged 287.9c a litre, down from 320.8c in May.
Dubai crude oil averaged US$80.75 a barrel, down 20.4% on May, and the NZ dollar averaged 58.0 US cents, from 59.0 US cents.
The importer and retailer margin on a litre of 91 averaged 49.7c, from 38.0c in May.
Full charts: Fuel prices
| Figure | Period | Latest | Change | On a year earlier |
|---|---|---|---|---|
| Regular 91 petrol (per litre) | June 2026 | 312.5c | −10.8c | +61.8c |
| Premium 95 petrol (per litre) | June 2026 | 328.3c | −11.0c | +60.3c |
| Diesel (per litre) | June 2026 | 287.9c | −32.8c | +107.7c |
| Dubai crude oil (per barrel) | June 2026 | US$80.75 | −20.4% | +15.8% |
| NZ dollar (in US cents) | June 2026 | 58.0 | −1.0c | −2.2c |
| Margin on 91 (per litre) | June 2026 | 49.7c | +11.7c | +14.7c |
Source: MBIE Energy Statistics. Averages of MBIE's weekly prices for the weeks ending in June 2026. The most recent weeks are provisional and can be revised.
Interest rates
The Official Cash Rate remained at 2.25%.
The average standard 2-year fixed mortgage rate, before specials, rose to 5.69% in May, from 5.65% in April.
The average advertised 6-month term deposit rate was unchanged at 3.46% in May.
Full charts: Interest rates
| Figure | Period | Latest | Change | On a year earlier |
|---|---|---|---|---|
| Official Cash Rate | June 2026 | 2.25% | 0.00 pts | |
| Standard 2-year fixed mortgage rate | May 2026 | 5.69% | +0.04 pts | +0.06 pts |
| 6-month term deposit rate | May 2026 | 3.46% | 0.00 pts | −0.55 pts |
| 10-year government bond yield | May 2026 | 4.68% | 0.00 pts | +0.09 pts |
Source: Reserve Bank of New Zealand (RBNZ).
Housing
The national median house price rose to $762,000 in March, from $755,000 in February, and was 0.3% lower than a year earlier.
The median weekly rent for new tenancies fell to $595 in the three months to April, from $600 in the three months to January, and was 0.8% lower than a year earlier.
New homes consented rose 12.5% in April to 3,814 (seasonally adjusted).
In the year to April, 39,087 new homes were consented, 16.5% more than the year before.
Full charts: Housing and rent
| Figure | Period | Latest | Change | On a year earlier |
|---|---|---|---|---|
| National median house price | March 2026 | $762,000 | +0.9% | −0.3% |
| Median weekly rent, new tenancies (quarterly) | 3 months to April 2026 | $595 | −0.8% | −0.8% |
| New homes consented (seasonally adjusted) | April 2026 | 3,814 | +12.5% | |
| New homes consented | Year to April 2026 | 39,087 | +16.5% |
Source: Ministry for Cities, Environment, Regions and Transport (MCERT), MBIE Tenancy Services (Market Rent), Stats NZ. Rent is published quarterly, as the median of new bonds over three months ending in January, April, July or October, so it appears in the March, June, September and December editions. A building consent is permission to build, not a finished home.
Jobs and pay
Filled jobs rose 0.2% in May to 2.35 million (seasonally adjusted), and were 0.4% higher than in May 2025.
Full charts: Wages and real incomes
| Figure | Period | Latest | Change | On a year earlier |
|---|---|---|---|---|
| Filled jobs (seasonally adjusted) | May 2026 | 2,349,596 | +0.2% | +0.4% |
Source: Stats NZ, Employment New Zealand (MBIE), Living Wage Movement Aotearoa New Zealand. Filled jobs: the change over the month is seasonally adjusted; the change on a year earlier compares actual counts.
Spending
Retail card spending rose 1.6% in May to $7.09 billion (seasonally adjusted), and was 3.3% higher than in May 2025.
| Figure | Period | Latest | Change | On a year earlier |
|---|---|---|---|---|
| Retail card spending (seasonally adjusted) | May 2026 | $7.09 billion | +1.6% | +3.3% |
Source: Stats NZ. Spending on debit, credit and charge cards in retail industries. The change over the month is seasonally adjusted; the change on a year earlier compares actual spending. It isn't adjusted for inflation, so higher prices alone can lift it.
Economic growth
The economy grew 0.9% in the March 2026 quarter, and was 1.7% larger than a year earlier.
Full charts: The economy overview
| Figure | Period | Latest |
|---|---|---|
| GDP change in the quarter | March 2026 quarter | +0.9% |
| GDP change on the same quarter a year earlier | March 2026 quarter | +1.7% |
Source: Stats NZ.
Trade
Goods exports were $8.65 billion in May and imports $8.07 billion, a trade surplus of $579 million for the month.
Over the year to May, the goods trade deficit was $3.65 billion, compared with a deficit of $4.01 billion a year earlier.
| Figure | Period | Latest | On a year earlier |
|---|---|---|---|
| Goods exports | May 2026 | $8.65 billion | +15.1% |
| Goods imports | May 2026 | $8.07 billion | +25.8% |
| Trade balance | May 2026 | $579 million | |
| Trade balance | Year to May 2026 | −$3.65 billion |
Source: Stats NZ. Goods only: services such as tourism aren't counted. The latest three months are provisional.
Tourism
In April, 288,546 overseas visitors arrived, 8.0% more than a year earlier.
Over the year to April, 3.65 million visitors arrived, 8.4% more than the year before.
| Figure | Period | Latest | On a year earlier |
|---|---|---|---|
| Visitor arrivals | April 2026 | 288,546 | +8.0% |
| Visitor arrivals | Year to April 2026 | 3,646,732 | +8.4% |
Source: Stats NZ. Counts arrivals, so a visitor making two trips counts twice. Not seasonally adjusted, so it's compared with the same month a year earlier.
How this report is made
Every figure and sentence here is built from the same data behind this site's charts. Nothing is typed in by hand or written by AI.
Each edition covers the figures published that month, not the period they describe: inflation for the June quarter comes out in July, so it's in the July edition, and house prices come out about three months after the month they cover. Rent is quarterly, so it's in every third edition. Every table row says which period its figure is for. Weekly fuel prices are averaged over the month.
An edition is saved when it's published, on the 1st of the next month, and doesn't change when agencies later revise their figures, so it shows what was known at the time. The latest revised figures are on the site's data pages. Any correction to an edition is dated and explained at the top. How the data is collected.