New Zealand: Food Inflation Eases to 13-Month Low.

Annual food inflation in New Zealand slowed to 3.4% in March 2026 from 4.5% in the previous month, marking the first monthly moderation in three months. The latest figure also represented the lowest level since February 2025. The meat, poultry, and fish group rose 7.3% (vs. 7.5% in February), making the largest contribution to the annual increase in food prices, followed by restaurant meals and ready-to-eat food, which rose 2.8% (vs. 2.7% in February). By contrast, prices for olive oil and free-range eggs fell 7.6% and 10.3%, respectively. On a monthly basis, food prices fell 0.6%, mainly driven by declines in fruit and vegetables (-2.9%) and grocery food (-0.8%).