Daily essentials rising faster than general inflation over ten years
Monday 28 September 2026 · 2 outlets · 2 reports · updated In this story Stats NZ, Westpac, ASB
Westpac economists report that the cost of many everyday items has increased faster than general inflation since 2016. Products such as bread, butter, mince, and chocolate have seen significant price rises, with white bread prices climbing 120% due to factors including global wheat prices.
Key facts
6 facts
- CPI rose 38 percent since 2016
- Butter prices rose 157 percent since 2016
- White bread prices rose 120 percent over the decade
- Beef mince rose 71 percent over 10 years
- Diesel for a mid-sized SUV rose 141 percent
- Chicken breasts rose 2 percent since 2016
The full story
1 min read · 2 outlets
Westpac economists report that the cost of many daily items for New Zealand households has risen faster than general inflation over the last 10 years. While the Consumer Price Index (CPI) has increased by 38 percent since 2016, several grocery staples have seen much higher increases.
Butter has seen a 157 percent price rise, moving from an average of $3.28 for a 500g block in 2016 to $8.43. White bread has also increased by 120 percent over the decade, driven in part by global wheat prices.
Other significant price increases include beef mince at 71 percent, milk at 57 percent, and olive oil at 40 percent. In contrast, chicken breasts rose by only 2 percent since 2016.
Non-food costs have also risen, including diesel for a mid-sized SUV at 141 percent and rates and services at 87 percent. Westpac's Sarah Hearn noted that 'nice to have' items like home furnishings and TV subscriptions had much smaller price rises.
Compiled from reports by RNZ and NZ Herald.