New Zealand food prices increased 2.1% annually in February 2024, the smallest increase since May 2021, due to lower fruit and vegetable prices.

New Zealand food prices increased 2.1% in the year to February 2024, the smallest annual increase since May 2021, according to Stats NZ. Lower fruit and vegetable prices, down 9.3% in the year to February 2024, contributed to the decrease. This marks the smallest annual increase in food prices since May 2021, compared to the 12% increase in the year to February 2023. Cheaper prices for fresh produce such as tomatoes, broccoli, and lettuce drove the decrease in fruit and vegetable prices.