Higher prices for the grocery food subgroup contributed the most to the annual increase, up 4% annually and 2.3% on a monthly basis.
“Coffee drinkers may have noticed their takeaway coffee becoming more expensive, with prices up 32c over the past year. The last time there was an annual increase this high (of more than 30c) was in the 12 months to March 2024,” Growden said.
“The price of a takeaway coffee is now $1.12 higher than five years ago.”
The average price for chocolate boxes was $12.57 per 250g box, up 62.8% monthly.
Prices for the meat, poultry and fish subgroup were the next-largest contributor, with prices up 8.9% annually and 3.2% on a monthly basis.
The average price for a beef porterhouse/sirloin steak was $45.48 per kg, up 22.9% annually.
Prices for the fruit and vegetables subcategory grew by 6.3% annually and 6.7% on a monthly basis.
The average price for tomatoes was $5.70 per kilogram, down 8.9% monthly.
Prices for the non-alcoholic beverages subcategory increased by 4% annually and 2.7% monthly, while prices for the restaurant meals and ready-to-eat food subcategory increased by 2.6% annually and 0.2% monthly.
“The last time prices for all food subgroups increased in a month was June 2025,” Growden said.
Alcohol and rent up
Prices for alcohol, cigarettes and tobacco also grew on an annual and monthly basis
The alcoholic beverages subcategory increased by 0.3% annually and 0.7% monthly, while the cigarettes and tobacco subcategory increased 5.4% annually and 3.4% monthly.
Rent prices also matched the trend with existing rent prices, known as the stock measure of rental property, increasing by 1.2% annually but they remained flat on a monthly basis.
The flow measure, which indicates prices for new rentals or tenancies in the market, was up 1.6% annually and 5.6% on a monthly basis.
Electricity prices continued their upward trend, with prices up 11.5% on an annual basis and monthly prices lifting by 0.3% in January.
Gas prices remain high on an annual basis, up 14.1%, but were down on a monthly basis by 0.1%.
Petrol and diesel prices fall
Petrol and diesel prices decreased by 2.4% and 3.2% from December 2025 to January 2026, respectively.
Prices for both fuel types also decreased on an annual basis, with petrol down 4.8% and diesel down 4.9%.
“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.
Domestic air transport prices were down 5.5% on an annual basis and 5.5% monthly.
International air transport prices were up 4% annually but decreased on a monthly basis by 13.8%.
As for accommodation, domestic prices were up 1.5% on an annual basis but fell 0.5% on a monthly basis, while international accommodation prices were up 1.4% annually, but fell 10.1% on a monthly basis.
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
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