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Butter up 64% as food prices rise at highest rate in a year

File photo: Getty Images
File photo: Getty Images
Annual food prices have risen at their fastest rate in more than a year, driven by dairy, meat, and some grocery prices.

Stats NZ said prices for the 12 months ended March were up 3.5 percent, the highest since January last year, following a 2.4 percent annual increase in February.

It said butter, milk, lamb, and beef had double-digit percentage rises over the past year, as did chocolate and coffee.

Milk prices increased 16 percent, while butter prices increased 64 percent in the period.

High export prices have underpinned local prices for meat and dairy, while bad harvests, disease, and weather have driven world cocoa prices.

"The average price for a 250g block of chocolate was $5.99 in March 2025, that's $1.60 more expensive than three years ago," Stats NZ prices and deflators spokesperson Nicola Growden said.

"The weighted average price of 1kg of beef mince was $19.96 in March 2025, nearly $2 more expensive than this time last year," she said.

Over the same period, fruit and vegetable prices fell more than 2 percent.

Stats NZ said petrol prices, international airfares, and some accommodation charges were softer last month.