The pace of supplier cost increases to Foodstuffs supermarkets moderated slightly in the year to January.
The Infometrics-Foodstuffs New Zealand Grocery Supplier Cost Index (GSCI) showed an average 2.3 percent increase in what suppliers charged in January 2026, compared to a year earlier.
“January’s result was slightly slower than what was recorded in December 2025,” said Infometrics Chief Executive and Principal Economist Brad Olsen.
“The usual summer cost change moratorium limits the number of cost changes over December and January, with only more seasonal and perishable items seeing movement.”
Many companies and industries use moratoriums to minimise system changes during peak trading periods, helping reduce disruption for customers over the holidays. Due to the moratorium, the number of cost increases in January was the lowest in three years.
“Due to the summer cost moratorium, it’s still too early to read much into the slower increase in the Index over January, especially given mixed outcomes globally from the recent lift in dairy prices."
Lingering concerns remain around cost pressures in 2026, with continuing domestic inflationary momentum. Despite this concern, international cost pressures are more restrained.
Supplier costs rose across all but one department in January, year on year. Unchanged monthly costs for meat and dairy saw the annual growth rate in these departments slow, although that trend will likely change further as cost changes resume next month.
Fish costs rose further in January, with more mixed changes across produce. Some items, like kiwifruit, cauliflower, and not-in-season fruits, saw costs rise. More in-season options, such as cherries, plums, and peaches, saw prices fall as supply remained plentiful.
Month on month, nearly 1,350 products increased in cost from December 2025 to January 2026. This result was the lowest monthly total since the start of 2023.
Most departments recorded no changes in January, due to the summer cost change moratorium. Changes in chilled foods were notably lower in January due to the moratorium, but changes in produce continued. There were a variety of increases and decreases in different produce costs.
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