Meat prices contributed the most to the annual increase in food prices.
Higher prices for beef mince and steak have driven up annual food prices in the year to February, with some items rising at levels not seen before in data from Stats NZ.
However, Stats NZ also had to revise down data it reported in January. The revision was due to human error in the original figures.
Prices for the overall food group increased by 4.5% in the 12 months to February 2026, following a 4.2% rise in the year to January.
On a monthly basis, food prices fell by 0.1% in February compared with January, with four of six subcategories reporting price declines.
Higher prices for the meat, poultry and fish group contributed the most to the increase, up 7.5% annually, although it fell on a monthly basis by 0.1%.
The average price for a beef porterhouse/sirloin steak was $44.71 per kilogram (previously $36.80), up 21.5% annually.
Stats NZ prices and deflators spokesperson Nicola Growden said the average price per kilogram of beef mince is now $4.60 more than the same period in 2025, at $24.46 per kilogram.
“This is the largest annual price increase in beef mince prices since the series began in June 2006,” Growden said.
The fruit and vegetable subcategory was the next largest contributor, with prices up 9.4% annually but down 0.8% monthly.
Prices for grocery food were also up annually by 2.9%, although they fell 0.4% on a monthly basis.
Growden said snacks including potato crisps, sweets and chocolate biscuits had decreased over the past 12 months.
“Boxed chocolates were $3.82 cheaper this month than January 2026. There is often a price decrease in February that coincides with Valentine’s Day.”
Prices for restaurant meals and ready-to-eat food increased on an annual and monthly basis, up 2.7% and 0.3% respectively.
Non-alcoholic beverage prices also increased both annually and monthly, up 4.9% and 0.5% respectively.
Prices for alcohol, cigarettes and tobacco grew on an annual and monthly basis in February.
The alcoholic beverages subcategory increased by 0.2% annually and 0.1% monthly, while the cigarettes and tobacco subcategory increased 5.8% annually and 0.3% monthly.
Existing rent prices, known as the stock measure of rental property, increased by 0.9% annually but fell on a monthly basis by 0.1%.
The flow measure, which indicates prices for new rentals or tenancies in the market, was down 2.1% on an annual basis and down 7.8% on a monthly basis.
Electricity and gas prices continued to rise, however; with prices for electricity up 13.2% annually and 1.6% monthly.
Prices for gas increased by 13.1% annually and 0.2% monthly.
Before the Iran conflict broke out, petrol and diesel prices were decreasing in New Zealand, with both fuel types falling on a monthly basis by 1.4%.
On an annual basis, prices for petrol were down 6% and diesel down 6.2%.
Domestic air transport prices were up significantly, rising 10.6% on an annual basis and 12.8% monthly.
Growden said it was the largest annual increase in domestic airfares in a February month since 2023.
International air transport prices, meanwhile, were up 1.8% annually but decreased on a monthly basis by 16.4%.
As for accommodation, domestic prices were up 8.3% on an annual basis and 3.4% on a monthly basis, while international accommodation prices were up 6% annually and 10.2% on a monthly basis.
Alongside the data, Stats NZ issued a correction to its January 2026 release, revising the stated monthly food price increase down from 2.5% to 2.1%.
On an annual basis, this was a revision down from 4.6% to 4.2%.
The error occurred because the January 2026 food price index calculations did not include all the supermarket scanner data for the month.
Specifically, for one supermarket data provider only 18 of the 31 days were included. This was due to human error.
Government statistician and Stats NZ chief executive Colin Lynch said the organisation was acutely aware of the importance of robust indicators, and apologised to customers for the error.
“The reliability of economic statistics is something Stats NZ takes very seriously. The people of New Zealand must be able to have confidence in our data and insights.”
A review into the error is underway, but the error does not impact the upcoming quarterly inflation calculation.
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.