New Zealand Food Inflation Eases to 13-Month Low

Annual food inflation in New Zealand eased to 2.6% in April 2026 from 3.4% in the previous month, marking the second straight month of moderation. The latest figure also marked the softest increase since February 2025, with fruit and vegetable prices rising at their slowest pace in four months (3.7% vs 6.4%), while grocery food prices advanced at the weakest rate since at least April 2025 (0.7% vs 1.2%). Meanwhile, the meat, poultry, and fish category rose 7.8% (vs 7.3% in March), making the largest contribution to the annual increase in food prices, followed by restaurant meals and ready-to-eat food, which increased 2.7% (vs 2.8% in March). By contrast, prices for olive oil and eggs fell 10.3% and 8.8%, respectively. On a monthly basis, food prices were unchanged after falling 0.6% in March.

Annual food inflation in New Zealand slowed to 3.4% in March 2026 from 4.5% in the previous month, marking the first monthly moderation in three months. The latest figure also represented the lowest level since February 2025. The meat, poultry, and fish group rose 7.3% (vs. 7.5% in February), making the largest contribution to the annual increase in food prices, followed by restaurant meals and ready-to-eat food, which rose 2.8% (vs. 2.7% in February). By contrast, prices for olive oil and free-range eggs fell 7.6% and 10.3%, respectively. On a monthly basis, food prices fell 0.6%, mainly driven by declines in fruit and vegetables (-2.9%) and grocery food (-0.8%).

Annual food inflation in New Zealand rose to 4.5% in February of 2026 from 4.2% in the previous month, reflecting the second consecutive monthly acceleration in prices. Costs fell 0.4% in broader grocery groups, with a 7.5% surge for meat, poultry, and fish, while those for fruit and vegetables soared by 9.4%. In turn, prices for soft drinks rose by 6.7%.