FX.co ★ New Zealand Food Inflation Eases to 13-Month Low

Annual food inflation in New Zealand eased to 3.4% in March 2026, down from 4.5% in February, marking the first monthly slowdown in three months and the lowest rate since February 2025. The meat, poultry, and fish category rose 7.3% (compared with 7.5% in February), remaining the largest driver of the annual increase in food prices, followed by restaurant meals and ready-to-eat food, which were up 2.8% (vs 2.7% in February). In contrast, prices for olive oil and free-range eggs declined by 7.6% and 10.3%, respectively. On a monthly basis, overall food prices fell 0.6%, led by decreases in fruit and vegetables (-2.9%) and grocery food (-0.8%).