New Zealand’s Food Price Index (FPI) recorded a sharper decline in March 2026, underscoring ongoing weakness in consumer food costs. According to the latest data updated on 16 April 2026, the FPI fell by 0.6% month-on-month, deepening from a 0.1% month-on-month drop in February 2026.
The month-on-month comparison shows that food prices are falling at an accelerating pace, as the “actual” March change is measured against February, while the “previous” February reading reflects price movements relative to January. The back-to-back declines suggest growing downward pressure on food prices across New Zealand during the early part of 2026.
