In June 2024, New Zealand's food prices declined 0.3% annually for the first time in six years, primarily due to lower tomato, cheese, and potato prices.

New Zealand's food prices experienced a 0.3% decline for the 12 months to June 2024, marking the first annual decrease in nearly six years, according to Stats NZ. The reduction was attributed to lower prices for tomatoes, cheese, and potatoes, despite overall food prices remaining at historically high levels. In the 12 months leading up to June 2024, fruit and vegetable prices fell by 16.1%, the largest recorded decrease since the series began, while meat, poultry, and fish prices dropped by 1.4%.