Live indicators | % change since Iranian conflict (28 Feb 2026)

Brent Crude (NZD)

91 Petrol (NZD)

Diesel (NZD)

NZD/USD Exchange Rate
Brent Crude Oil – Historical Spot Price (NZD/bbl & USD/bbl)
Source: Yahoo • Daily spot price • Last updated:
NZ Economic Context

Official Cash Rate

ASB 1-Year Fixed

Annual CPI

Avg Household Fuel Cost

NZD p.a. vs pre-conflict
Household figure: NZ total, central estimate. Full regional breakdown on the Conflict Impact page.
Business Cost Indices | Annual growth %

LCI All Industries

PPI Heavy Construction

Steel (NZD/t)

Labour Cost Indices

The Labour Cost Index (LCI) measures changes in the cost of labour, holding the quantity and quality of labour constant. It is a key input to understanding cost escalation in construction, infrastructure, and services.

LCI All Industries — Real Annual Growth (% p.a.)
Source: Statistics NZ (underlying data) · Principal Economics Index Calculator (modelled forecast) · Shaded band = confidence interval
Construction
Electricity, Gas & Water
Professional Services
Commercial Rents

Producer Price Indices

The Producer Price Index (PPI) measures price changes from the perspective of the seller. It covers inputs and outputs across construction, manufacturing, utilities, and services — many of which have material exposure to oil and energy costs.

PPI All Industries — Real Annual Growth (% p.a.)
Source: Statistics NZ (underlying data) · Principal Economics Index Calculator (modelled forecast) · Shaded band = confidence interval
Heavy Construction
Electrical
Rental

Metals & Energy Commodities

Commodity prices — particularly steel, copper, and aluminium — are closely linked to energy input costs and global demand cycles.

Steel (NZD/t)
Copper (NZD/t)
Aluminium (NZD/t)
Composite Metals Index & Annual Growth Rates (% p.a.)
Composite index is a weighted average of copper, aluminium, and steel growth rates calibrated to NZ construction input weights.

Insurance Cost Indices

NZ insurance cost index alongside the Marsh Global Insurance Market Index. Historic values run to 2023; dashed line shows Principal Economics forecast to 2030.

Insurance Cost Index (Base = 2014)
Source: Principal Economics Index Calculator · Marsh Global Insurance Market Index

Iranian Conflict — Economic Impact on New Zealand

NZ Total Economic Loss

Per Household Cost

Fuel Price Increase
Regional Breakdown
NZ$M p.a. based on 2023 Census dwelling counts. Monetised emissions reductions excluded — could offset ~20-25% of costs.

NZ Fuel Supply

Live pump prices and latest fuel stock levels reported by MBIE.

Live Pump Prices

91 Petrol

95 Petrol

98 Petrol

Diesel
Total NZ Fuel Stocks (Days of Cover)

Petrol

Diesel

Jet Fuel
Fuel Stock Breakdown by Location
Source: MBIE Fuel Stocks • Updated Monday & Wednesday after 1pm

Direct Oil Usage Share by NZ Industry

Based on latest Input-Output tables. Shows oil as a direct share of each industry's total output.

Oil Share of Industry Output (%)
Source: Statistics NZ Input-Output tables • Latest available year

About This Platform

The Cost Intelligence Platform tracks key New Zealand economic indices and live input prices, providing a consolidated view of cost pressures across the economy.

What This Platform Covers

  • Labour Cost Index (LCI) — quarterly measures of wage and salary cost change across NZ industries, modelled and forecast by Principal Economics.
  • Producer Price Index (PPI) — input and output price changes across construction, manufacturing, utilities, and services.
  • Commodity Indices — NZD-denominated spot prices for steel, copper, and aluminium, with a composite construction-weighted index.
  • Insurance Indices — NZ insurance cost index alongside the Marsh Global Insurance Market Index, with a Principal Economics forecast to 2030.
  • NZ Fuel Supply — live pump prices sourced from Gaspy and fuel stock levels (days of cover) reported by MBIE.
  • Oil Usage by Industry — direct oil share of output by industry, derived from Statistics NZ Input-Output tables.

Current Context: Iranian Conflict

On 28 February 2026, the United States and Israel launched coordinated airstrikes on Iran (Operation Epic Fury), targeting military sites, government compounds in Tehran, nuclear and missile facilities, and Iranian leadership. The conflict has effectively disrupted commercial shipping through the Strait of Hormuz — a chokepoint through which approximately 20% of global seaborne oil trade passes. Brent crude rose sharply from USD 72.5/bbl on 27 February to USD 85.4/bbl by 5 March, a move of ~18% in less than a week. A temporary ceasefire was agreed around 7-8 April 2026, though the situation remains volatile.

New Zealand is particularly exposed through fuel import costs, which flow directly into transport, construction, and agricultural supply chains. This platform is designed to help track how these upstream shocks transmit into domestic cost indices over time.

Data Sources & Methodology

  • Underlying index data: Statistics New Zealand
  • Index modelling and forecasts: Principal Economics Index Calculator
  • Fuel stock levels: MBIE
  • Oil spot price: Yahoo Finance (Brent Crude)
  • Insurance benchmark: Marsh Global Insurance Market Index
  • Official Cash Rate: Reserve Bank of New Zealand

This platform is intended for indicative purposes. Forecasts reflect modelled scenarios and should not be taken as financial or investment advice.