Grocery price inflation eases to lowest since 2024 in New Zealand and Britain

In New Zealand, Foodstuffs reported its comparable food price index (FPI) basket rose 2.2% year‑on‑year in June, the smallest annual increase since December 2024. The slowdown came alongside notable price falls for items such as cauliflower (‑22.8%), tomatoes (‑22.3%), olive oil (‑21.0%) and eggs (‑17.5%). Some products, including dried apricots and white bread, continued to rise sharply, reflecting the influence of global supply‑chain volatility and strong overseas demand for red meat.

In the United Kingdom, grocery price inflation fell to 2.6% over the four weeks to 12 July, also the lowest since December 2024 and the fifth consecutive month of easing. Households still spent £5,530 on groceries in the past year, £156 more than a year earlier. A surge in supermarket visits—driven by the World Cup and heatwaves—recorded 497 million trips, the highest since March 2020. Higher sales were noted for beer, burgers, frozen treats and bottled water, while market‑share gains were seen at discounters such as Lidl.