New Zealand grocery supplier costs remain steady in September

The Grocery Supplier Cost Index (GSCI) for Foodstuffs New Zealand remained steady in September 2026, marking the third consecutive month of a 1.9 percent annual increase. While the pace of cost increases has stabilized, Infometrics Principal Economist Brad Olsen noted that a large number of individual product price hikes continue to occur at a moderate rate.

Specific cost pressures include elevated seafood prices due to fresh fish fillet costs and a 2.1 percent annual rise in frozen items, driven by chicken and vegetable prices. Grocery department costs rose by an average of 2.3 percent, impacted by higher costs for coffee, canned tuna, chips, and eggs. Produce costs showed mixed trends, with higher potato prices offset by lower tomato costs.

Ongoing inflationary drivers include higher fuel and plastic prices, constrained global protein supplies, and increased import costs resulting from a 17-year low in the currency. Future cost trends remain uncertain due to geopolitical volatility and shifting global input costs.