The latest inflation figures out today come as further blow to retailers, Retail NZ Chief Executive Carolyn Young says.

The Consumer Price Index has risen to 3.1% in the 12 months to December, outside of the Reserve Bank target range for inflation of 1% – 3%.

“Today’s announcement is further disappointment for the retail sector with continued increases in inflation over the last 12 months, making it difficult for New Zealanders to manage household spending," Ms Young says.

"We know that consumers have seen significant increases in core expenses such as rates, electricity, telecommunications, insurance and grocery prices, which keeps eating away at the confidence of consumers and their ability to get ahead."

"That has a direct impact on discretionary spending as witnessed in the 0.5% decline in spending for December 2025 announced yesterday."

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