Purchasing power since 2023
What a 2023 salary is worth today
Between the March 2023 quarter and the March 2026 quarter, consumer prices rose 9.9% while the rate paid for the same job rose 9.3%. Anyone whose pay tracked the typical job is about 0.6% behind where they started.
What 2023 salaries need to be now
| Salary in 2023 | To match prices | Typical job now | Shortfall |
|---|---|---|---|
| $50,000 | $54,967 | $54,635 | $333 |
| $70,000 | $76,954 | $76,488 | $466 |
| $90,000 | $98,941 | $98,342 | $599 |
| $120,000 | $131,921 | $131,123 | $798 |
Comparisons use the March quarter of 2023 against the March 2026 quarter. Gross salary, before tax; because a pay rise is taxed, the increase needed to leave take-home pay whole is a little larger again.
Work it out for your own salary
Gross salary, before tax. Years are compared using the March quarter.
The same job across New Zealand now typically pays $76,488 — leaving even a worker on the going rate about $466 short of where they started. Falling behind is the normal experience, not a personal failure.
Where do you sit?
What this does and does not tell you
This compares the rate paid for the same job, using Stats NZ's Labour Cost Index, against consumer prices. It does not account for promotions, changes in hours, or moving to a better-paid role — all of which can lift an individual's pay well beyond the going rate.
It also uses national average prices. Your household's own costs depend on how you spend, and can rise faster or slower than the headline figure.
Other years
Common questions
How much has the cost of living risen since 2023?
Consumer prices in New Zealand rose 9.9% between the March 2023 quarter and the March 2026 quarter. A basket costing $100 then costs about $110 now.
What would a 2023 salary need to be today?
To buy what it bought in 2023, a salary needs to be about 1.099 times its 2023 level. A $70,000 salary in 2023 would need to be about $76,954 by the March 2026 quarter.
Did wages keep up with inflation after 2023?
No. The rate paid for the same job rose 9.3% between the March 2023 quarter and the March 2026 quarter, while prices rose 9.9%. Someone whose pay tracked the typical job exactly would be about 0.6% behind where they started.