Stats NZ Reports Fuel Price Drop and Rising Food Costs

Stats NZ reported that petrol and diesel prices fell by 4.2 percent and 12.1 percent respectively in June 2026. This represents the second consecutive monthly decline following price spikes in March and April. The dip followed a temporary drop in global energy prices linked to a now-collapsed US-Iran agreement to end hostilities. Despite this monthly decrease, annual prices remain high, with petrol up approximately 24 percent and diesel up 57 percent over the year.

Nicola Growden, a spokesperson for Stats NZ, noted that while fuel prices decreased for two straight months, other costs continued to climb. Food prices rose 0.6 percent in June, pushed by seasonal increases in cucumbers and tomatoes. Annual food inflation reached 2.5 percent, the lowest rate since February 2025.

Growden highlighted a persistent trend in dairy costs, stating that milk prices have increased every month for the last two years. Additionally, the agency noted price increases in international travel, gas, and electricity.