FX.co ★ New Zealand Food Inflation at 1-1/2-Year High in June

In June 2025, New Zealand's annual food inflation reached 4.6%, climbing from 4.4% in the previous month and registering the highest rate observed since December 2023. This sustained increase in food costs continues to place a significant burden on household budgets. Notably, the rise is predominantly driven by the grocery and meat, poultry, and fish categories, which increased by 4.7% and 6.4%, respectively. Within the grocery sector, there were significant price hikes in milk, butter, and cheese, with butter experiencing a remarkable increase, costing nearly five dollars more than it did a decade ago—an astonishing 120% rise. The price of meat also saw a notable jump, with beef steak rising by 22.3% and beef mince by 15.6%. Furthermore, the prices of fruits and vegetables climbed by 7.6%, while the cost of restaurant meals and ready-to-eat food items rose by 2.2%. On a monthly scale, food prices increased by 1.2% in June 2025, up from a 0.5% growth observed in May 2025.