FX.co ★ New Zealand Food Inflation Stays at 19-Month Low

New Zealand’s annual food inflation held at 1.9% in August 2026, unchanged from July and remaining at its lowest level since December 2024. Prices for meat, poultry, and fish rose 3.4% (up from 3.2% in July), rebounding from July’s slowest growth rate since at least June 2025 and continuing to be the largest driver of the overall increase in food prices. Grocery food prices also picked up, rising 1.7% year-on-year (compared with 1.6% in July). In contrast, fruit and vegetable prices fell more sharply, dropping 1.6% after a 1.0% decline in July. On a monthly basis, food prices increased 0.3% in August, following a 0.1% rise in July, marking the fourth consecutive month of gains.