The consumers price index (CPI), New Zealand’s best known measure of inflation, measures the rate of price change of goods and services purchased by households. The CPI consists of a basket of goods and services that represent purchases made by households. The goods and services in the basket, and their relative importance, are reviewed every three years to ensure the basket remains up to date.
There are about 649 goods and services included in the basket. They are classified into 11 groups:
- alcoholic beverages and tobacco
- clothing and footwear
- housing and household utilities
- household contents and services
- recreation and culture
- miscellaneous goods and services.
These groups are then broken down further into 45 subgroups and then into 107 classes. The CPI is reported each quarter down to the class level.
After a review in 2020 the following goods or services have been added and removed from the CPI
Items that have been included in the basket of goods
Items that have been removed in the basket of goods