-- New Zealand's annual consumer inflation increased by 3.1% in the March quarter, unchanged from the 3.1% increase in the 12 months to the December 2025 quarter, data from Stats NZ showed Tuesday.
The consensus forecast was for an increase of 2.9%, according to Trading Economics.
Electricity was the biggest driver of the annual inflation rate, rising by around 13%, the report said.
Higher electricity prices made up over a tenth of the 3.1% annual increase, marking the third consecutive quarter in which electricity was the largest upward contributor to inflation, said Nicola Growden, prices and deflators spokesperson.
Other key drivers of annual inflation included local authority rates and payments, which rose by 8.8%, meat and poultry up 8.6%, rent up 1.2%, and petrol up 1.1%.
On a quarter-on-quarter basis, inflation was up 0.9% in the March quarter after a 0.6% gain in the December 2025 quarter.
Higher petrol prices, which rose by 3.5%, were the main contributor to the quarterly inflation rate, while excluding petrol, the consumer price index increased by 0.8% in the March quarter.
"Petrol is the third-largest expense item for New Zealand households after rent and construction," Growden said.
Pharmaceutical prices also rose by about 18% in the March quarter due to higher prescription charges, while confectionery, nuts and snacks, fruit, and electricity were other major contributors to the overall price increase.