White bread costs nearly 60% more than it did last year, Stats NZ says.
The latest food price data shows that the annual inflation rate slowed slightly in December, down from 4.4%.
A two-litre milk costs $4.92, up from $4.25, for an annual rise of nearly 16%. White bread was $2.20, up from $1.39, a 58.3% increase.
The average prices for milk and bread represent the cheapest available options.
Higher prices for the grocery food group, up 4.6%, contributed the most to the annual food price increase.
Meat, poultry and fish followed, up 7.4%. Beef steak porterhouse climbed to an average of $44.30 per kilogram, up from $36.39 last year, a 21.7% annual increase.
Olive oil was the biggest offsetting factor, averaging $17.45 per litre in December 2025, its lowest price since March 2024 and 23.4% lower than March 2025.
Prices for salad-season staples like lettuce, cucumber, and avocado also fell.
Household essentials outside the supermarket continued to rise.
Electricity is up 12.2%, and gas is up 17.5% compared with December 2024. Since December 2021, electricity prices have risen 27.3%, while gas prices have jumped 56%.
On a month-to-month basis, food prices fell 0.3% in December, driven by cheaper non-alcoholic beverages and lower meat prices.
Soft drinks fell 11.2%, and roasting lamb dropped 27.4%, but fruit and vegetables rose 1.8 %, with apples up 15.8% and onions up 38.2%.
“A Sunday roast lamb was cheaper for the month of December,” prices and deflators spokesperson Nicola Growden said.
“However, the prices of vegetables that typically accompany roast lamb, such as onions, carrots, broccoli, and potatoes, increased.”
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