FX.co ★ New Zealand Q4 PPI Input Falls 0.5%, Signalling Easing Cost Pressures for Producers

New Zealand’s producer input prices declined in the fourth quarter of 2025, suggesting easing cost pressures for businesses heading into 2026. According to the latest data updated on 17 February 2026, PPI Input fell by 0.5% quarter-over-quarter, reversing the 0.2% increase recorded in the third quarter of 2025.

The quarter-over-quarter comparison shows that while producers previously faced modestly rising input costs in Q3 2025, the environment shifted to mild deflation in Q4 2025. The “actual” figure of -0.5% for the fourth quarter reflects the change from the third quarter, whereas the “previous” 0.2% figure captured the change from the second to the third quarter.

The move into negative territory for producer input prices may ease margin pressures for New Zealand firms, with potential implications for future output prices and inflation trends, as lower input costs can reduce the need for businesses to pass on price increases to consumers.