New Zealand Food Price Index +0.7% m/m (prior +1.2%)

New Zealand Food Price Index July 2025:

+0.7% m/m

• prior +1.2%
• for the y/y +5.0%

Earlier:

• New Zealand July manufacturing PMI 52.8 (up from prior 48.8)
• RBNZ tipped to cut cash rate to 3% as inflation cools and jobless rate hits 4-year high

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The New Zealand Food Price Index (FPI) is a measure of the changes in the average price of food items sold in New Zealand.

• calculated and published monthly by Statistics New Zealand
• the FPI tracks the prices of a basket of food items that represent the typical spending patterns of New Zealand households
• the FPI is an important indicator of inflation in New Zealand, as food prices account for a significant portion of household expenditure