New Zealand's food inflation eased to 4.0% in December 2025, with meat prices rising 7.4% annually.

Food prices in New Zealand rose 4.0% annually in December 2025, down from 4.4% in November, with grocery foods up 4.6% and meat, poultry, and fish increasing 7.4%. Bread, milk, and beef steak saw sharp hikes, while olive oil dropped 23.4% from its March peak. Monthly food prices fell 0.3%, driven by lower non-alcoholic beverages and meat prices, though onions and apples rose. Electricity and gas prices continued climbing, up 12.2% and 17.5% annually, respectively, with sustained increases since 2021.