FX.co ★ New Zealand Food Inflation at 3-Month High of 2.4%

Annual food inflation in New Zealand quickened to 2.4% in September 2026, up from 1.9% in August, when it had marked the smallest increase since December 2024. This was the fastest pace of food price growth since June. The main driver was grocery food, with inflation in this category rising to 3.0% from 1.7% in August, making it the largest contributor to the annual increase in food prices. Inflation for restaurant meals and ready-to-eat food edged down slightly to 3.1% from 3.2%, but remained the second-largest contributor to overall food inflation. Prices for meat, poultry, and fish rose 3.2%, compared with a 3.4% increase in August, while fruit and vegetable prices fell more sharply, declining 1.8% after a 1.6% drop in the previous month.