2026.06.1621:40:04UTC+00New Zealand Consumer Sentiment Hits 2023 Low

The Westpac McDermott Miller Consumer Confidence Index for New Zealand has dropped to 80.4, its lowest reading since 2023. Rising fuel prices and broader living costs—intensified by tensions in the Middle East—have deepened concerns about household finances in recent months. The prices of essentials such as petrol and electricity have climbed sharply, while higher mortgage rates have further increased borrowing costs.

In this environment, more households now expect their financial situation to deteriorate over the coming year than to improve. Sentiment toward the wider economy has also turned more negative, with consumers increasingly pessimistic about the overall outlook. As living costs keep rising, households are becoming more cautious about discretionary spending and are less inclined to buy durable goods. Wellington remains the most pessimistic region in the country.