CPI Q1: The ho-hum 3.1% and a rural roundup

CPI Q1: The ho-hum 3.1% and a rural roundup

April 27, 2026 · 39 min · Season 7 · Episode 18

About this episode

The episode discusses the Q1 2026 CPI data and its implications for interest rates in New Zealand.

Send us a question/idea/opinion direct via text message! The Q1 2026 CPI data is finally in, landing at a ho-hum 3.1%. While it’s technically above the target band, the market has already moved on to the next big question: exactly when will the RBNZ hold its nerve no longer and lift the OCR? This week, Nick Goodall and Kelvin Davidson break down the inflation stats and why July vs September is the current 50/50 bet for the first rate hike. We also dive into the latest Chart Pack data sh...

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