Consumer price index shows annual change in inflation is slowly falling
A line chart shows annual change in CPI for Australia and New Zealand from December 2019 to March 2023. Both take a big dip around the middle of 2020 before rising steeply though 2021 and 2022, slowly curving back down around the beginning of 2023. Australia's sits at 7% in March 2023, NZ's at 6.7%. The target inflation rate range for Australia is between 2 and 3 per cent, while in New Zealand it is between 1 and 3 per cent.