New Zealand's food inflation slowed to 4.1% in September 2025, with milk, cheese, and bread prices surging.

Food prices in New Zealand rose 4.1% annually through September 2025, the smallest increase since April, according to Stats NZ, with grocery food prices up 3.9%. Significant year-on-year hikes included milk (15.1%), cheese (31.4%), beef mince (17.7%), butter (28.9%), eggs (14.4%), and white bread (49.6%). Monthly prices fell slightly across the food group, marking the first decline since February. Other notable increases included rent (1.8% annually), electricity (11.6%), gas (17%), and airfares, while some items like chocolate and vegetables saw monthly drops.