FX.co ★ New Zealand Q1 2026 PPI Input Rebounds 1.4% After Prior Quarter’s Decline

New Zealand’s producer input prices swung back into positive territory in the first quarter of 2026, rising 1.4% quarter‑on‑quarter, according to data updated on 18 May 2026. The move marks a clear reversal from the fourth quarter of 2025, when input prices fell 0.5% compared with the previous quarter.

On a quarter‑over‑quarter basis, the latest figure shows that cost pressures faced by producers have strengthened notably after a period of declining input prices. The previous reading captured a contraction between the fourth quarter of 2025 and the third quarter of 2025, whereas the current 1.4% increase reflects price changes between the first quarter of 2026 and the fourth quarter of 2025.

The shift from a 0.5% decline to a 1.4% rise suggests input costs are once again adding upward pressure to the production side of the economy. While the data do not specify the drivers behind the rebound, the quarter‑over‑quarter comparison underscores a marked turnaround in the short‑term cost environment for New Zealand producers.