Inflation (CPI) during each prime minister's tenure
Every prime minister since 1991, ranked by how the inflation (CPI) changed from their first day in office. Politare shows what happened during a tenure; it does not claim the office-holder caused it.
| # | Prime minister | In office | Total | Per year | Chart |
|---|---|---|---|---|---|
| 1 |  Helen Clark | 10 Dec 1999 – 19 Nov 2008 | +5.6 pp Q3 1999 → Q3 2008 | +0.6 pp/yr | |
| 2 | Jacinda Ardern | 26 Oct 2017 – 25 Jan 2023 | +5.3 pp Q3 2017 → Q4 2022 | +1.0 pp/yr | |
| 3 |  Bill English | 12 Dec 2016 – 26 Oct 2017 | +1.5 pp Q3 2016 → Q3 2017 | +1.5 pp/yr | |
| 4 | Jenny Shipley | 8 Dec 1997 – 10 Dec 1999 | −1.5 pp Q3 1997 → Q3 1999 | −0.8 pp/yr | |
| 5 | Christopher Luxon | 27 Nov 2023 – now | −1.9 pp Q3 2023 → Q3 2026 | −0.6 pp/yr | |
| 6 | Jim Bolger | 2 Nov 1990 – 8 Dec 1997 from Q1 1991 | −3.5 pp Q1 1991 → Q3 1997 | −0.5 pp/yr | |
| 7 | John Key | 19 Nov 2008 – 12 Dec 2016 | −4.7 pp Q3 2008 → Q3 2016 | −0.6 pp/yr |
Sorted by total, highest first. Every row is indexed to the last quarter complete before the first day in office ("from" marks a start that had to move because that period had no data, or because the period cut it); Levels are per cent changes, rates are differences in pp; "per year" compounds levels and divides rates. Tenures with under 12 months, or under three observations, are left out. % change on a year earlier · Stats NZ consumers price index via the OECD prices database, all groups, change on the same quarter a year earlier · New Zealand data · as of Jul 2026.