New Zealand’s consumers price index increased 4.7 percent in the 12 months to the December 2023 quarter, according to figures released by Stats NZ today.

The 4.7 percent increase follows a 5.6 percent increase in the 12 months to the September 2023 quarter.

“While this is the smallest annual rise in the CPI in over two years, it remains above the Reserve Bank of New Zealand’s target range of 1 to 3 percent,” consumers prices senior manager Nicola Growden said.

From April 1 , this will apply to NZ Super, a range of benefits and other pensions.

Remember NZ Super is a combination of the above figure and movement in wages