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What, if any, are the productivity impacts on the New Zealand economy of the fuel price shock?

Answered Question 17094 (2026)
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Asked by

Chlöe Swarbrick

Member for Auckland Central · Green Party

Question

  • What, if any, are the productivity impacts on the New Zealand economy of the fuel price shock?

Answered by

Hon Nicola Willis

List MP · National Party · Minister of Finance

Answer

The relevant economic data is not yet available. However, available evidence suggests that productivity could be adversely affected by higher fuel prices in the short term, particularly where firms scale back activity in response. The magnitude and persistence of any productivity impacts are uncertain and will depend on the severity and duration of the shock, and on how effectively firms and the wider economy are able to adjust.