Steak, takeaway coffee, chocolate help drive annual food price increase

Food prices have risen 4.6% annually, according to StatsNZ.

StatsNZ said the grocery food group was up 4% in the 12 months to January 2026 and contributed the most to the annual increase, while meat, poultry, and fish was up 8.9% annually.

The price of sirloin and porterhouse steak was up 22.9% annually at $45.48 per kg. Chocolate blocks were also up 20.5%, and sit at $6.89 per 250 grams.

Those who enjoy a takeaway coffee were hit with an annual 6.6% increase – with the average now sitting at $5.16 per cup.

Stats NZ prices and deflators spokesperson Nicola Growden said the price of a takeaway coffee is now $1.12 higher than five years ago.

"Coffee drinkers may have noticed their takeaway coffee becoming more expensive, with prices up $0.32 over the past year. The last time there was an annual increase this high (of more than 30 cents) was in the 12 months to March 2024."

White bread was also up 57.9% annually and was priced at $2.21 per 600g. The average price for bread is the cheapest available option.

Although groceries were up across the board on average, not all food and drink was more expensive.

Soft drinks were priced at $3.32 per 1.5 litres, and were down 4.% annually. Potato crisps were down 5% annually, and were worth an average of $2.10 per 150 grams.

Similarly, olive oil was down 21.7% after significant price increases in recent years. One litre was worth $17.61 per litre.

Food prices increased by 2.5% in January compared to December, with higher prices for the grocery food group (2.3%) and fruit and vegetables (6.7%) contributing the most.

"The 2.5% increase this month is the largest monthly increase in food prices in four years," Growden said.

Petrol and diesel prices went down by 2.4% and 3.2% from December 2025 to January 2026, respectively. They were also down on an annual basis.

“New Zealanders may have noticed a decrease in both petrol and diesel prices at the pump. This is the first time both petrol and diesel have decreased in price monthly and annually since June 2025,” Growden said.