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flag New Zealand's food prices dropped 0.4% in November 2025, the third monthly decline, but annual food inflation stayed high at 4.4%.

flag New Zealand's food prices fell 0.4% in November 2025, marking the third straight monthly decline—the first such trend since late 2023—driven by a 4.5% drop in fruits and vegetables due to seasonal availability. flag Despite this, annual food inflation remained high at 4.4%, with grocery items up 4.6%, meat and poultry rising 7.7%, and white bread prices surging 53.2%. flag Other notable increases included milk (15.8% annually), porterhouse steak (26.7%), and electricity (12.3%). flag Rent, energy, and transport costs also rose, though some categories like international accommodation and domestic airfares saw annual declines.

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