NZ Annual Food Price Inflation Rate Eases to 1.2%

The annual food price inflation rate in New Zealand has eased to 1.2% in July, according to Foodstuffs data. This is the lowest annual increase since December 2024.

Fuel and electricity are among the major contributors to household inflation, with an annual CPI of 4.1% reported by Stats NZ for July 2026.

Foodstuffs NZ Managing Director Chris Quin says that while households face cost pressures elsewhere, the latest food price data is encouraging. 'July's numbers show food price inflation continuing to ease in our comparable basket, with good value across a range of fresh produce and some pantry staples,' he notes.