FX.co ★ New Zealand Food Prices Stall as FPI Growth Cools Sharply in July

New Zealand’s Food Price Index (FPI) showed a sharp deceleration in July 2026, with month‑on‑month growth easing to 0.1%, down from 0.6% in June 2026. The latest figures, updated on 16 August 2026, highlight a notable slowdown in food price momentum over the month.

On a month‑over‑month basis, the July reading indicates that food prices were almost flat compared with June, after a more pronounced increase the month before. In June 2026, the FPI had risen 0.6% from May, but the July data suggest that upward pressure on food costs has moderated.

The figures are based on a comparison of each month’s change relative to the previous month, with the “actual” July outcome measured against June, and the “previous” June indicator compared with May. This easing in FPI growth may offer some short‑term relief to households facing cost‑of‑living pressures, while also tempering immediate inflation concerns linked to food prices.