Stats NZ’s recent food price figures reveal a 0.4% decrease in September from the previous month.
Vegetables and chocolate experienced the largest monthly declines.
Boxed chocolates fell in price by 16.2% over the month, while cucumbers declined by 34%.
Food prices increased by 4.1% over the year, marking the smallest rise since April.
Milk prices rose 15% year-on-year, cheese increased by 31.4%, and beef mince went up 17.7%.
“All five food groups continue to grow annually, but the rate of increase for overall food prices has slowed this month,” prices and deflators spokesperson Nicola Growden said.
“The price of white bread increased by 69 cents per loaf since December 2024.”
However, she said cabbage was a standout, increasing by 97% compared to the previous year.
Lettuce was also over 50% costlier than it was a year ago.
Foodstuffs managing director Chris Quin said the general slowdown in food price inflation was a positive development following months of rises, but he noted that many categories still faced underlying cost pressures.
“While global costs have started to moderate in some areas, what our co-ops pay for the grocery items New Zealand produces and exports remains elevated – especially dairy and red meat.”
“Butter is still up 27% year-on-year in our basket, and we’re continuing to sell Pams butter at a loss as part of our commitment to make it as affordable and accessible as possible for shoppers,” he said.
He mentioned that many shoppers are opting for home-brand products to cut costs. Sales of Pams products have increased by 4.7% annually over the last two years.
Quin said seasonal products also provided a chance to save money.
“Fortunately, spring is now here, and prices have started to ease after a slow start. We’ve had a bit of a cold snap which has slowed growth in things like asparagus and berries, but other produce has come back strongly. As they come into season, tomatoes and lettuce are coming down in price, and avocados are great value – all Kiwi favourites for this time of year as we head into summer.”
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