annual rate of inflation of 3.1%<\/a>, which is outside the 1% to 3% target the Reserve Bank (RBNZ) has.<\/p>\nPrice for beef mince goes up<\/p>\n
The average price for beef mince was $24.46 per kilogram – up 23.2% annually. Previously beef mince was $19.86 per kilogram.<\/p>\n
Statistics New Zealand 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”.<\/p>\n
“This is the largest annual price increase in beef mince prices since the series began in June 2006.”<\/p>\n
Alongside this, beef sirloin steak was $44.71 per kilogram – up 21.5% annually. Previously it was $36.80.\u00a0<\/p>\n
Fresh eggs were an average price of $8.77 per dozen, decreasing 6.2% annually. They were previously sitting at around $9.35 per dozen.\u00a0<\/p>\n
Olive oil was down 22.1% – going from an average price of $22.63 to $17.62.<\/p>\n
A block of chocolate was, on average, $6.88 per 250 grams. This was up 20.3% annually – jumping from $5.72.\u00a0<\/p>\n
Cheap as chips<\/p>\n
“Kiwis may have seen cheaper prices for some snacks, with the cost of potato crisps, sweets, and chocolate biscuits decreasing over the last 12 months,” Growden said.\u00a0<\/p>\n
The average price for potato crisps was $2.14 per 150 grams. This is down 3.2% annually and was previously $2.21 per 150 grams.\u00a0<\/p>\n
Monthly food prices fall by 0.1%<\/p>\n
Compared with January, February saw a monthly food price decrease of 0.1%, with the grocery food group contributing the most to the fall, due to a 0.4% dip.\u00a0<\/p>\n
This was followed by fruit and vegetables which was down 0.8%. Meat, poultry and fish was down 0.1%.<\/p>\n
But higher prices were recorded for restaurant meals and ready-to-eat food, which saw a 0.3% jump. This was followed by the non-alcoholic beverages group which was up 0.5%<\/p>\n
Select chart tabs<\/p>\n
Food price index pa %
\n Food price index monthly %
\n Fruit and vegetables pa %
\n Meat\/poultry\/fish pa %
\n Grocery food pa %
\n Non alcoholic beverages pa %
\n Restaurant meals and ready to eat food pa %<\/p>\n
Life is like a box of chocolates<\/p>\n
Boxed chocolates went from $12.55 to $8.73 per 250 grams – a decrease of 30.4% monthly<\/p>\n
“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,” Growden said.<\/p>\n
Chocolate blocks were an average price of $6.88 per 250 grams from $6.46 – this is a 6.5% monthly jump.\u00a0<\/p>\n
Soft drinks went from $3.30 per 1.5 litres to an average price of $3.52. This was a monthly percentage increase of 6.7%.\u00a0<\/p>\n
Apples were down 20.7% monthly – going from an average price of $6.32 per 250 grams to $5.01.\u00a0<\/p>\n
Rent, electricity and gas<\/p>\n
Electricity saw an annual increase of 13.2% while gas saw a jump of 13.1%.<\/p>\n
The stock measure of rental property went up 0.9% in the 12 months to February.<\/p>\n
Airfares rise<\/p>\n
Petrol decreased 6% annually and diesel also saw a 6.2% dip.<\/p>\n
When it came to domestic air transport, there was an annual 10.6% decrease while international air transport was up 1.8% annually.<\/p>\n
Growden said:\u00a0“This is the largest annual increase in domestic airfares in a February month since 2023.”<\/p>\n
Alongside this, domestic accommodation jumped 8.3% while international accommodation increased 6%.<\/p>\n
Here is the detailed SPI information for February as supplied by Statistics New Zealand:<\/p>\n
![](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/03\/Screenshot)
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