Prices are soaring for food staples, with prices up 4.7 percent on a year ago.

Stats NZ data for October shows cheese, instant coffee, eggs and milk had some of the largest surges. 

Gas rose 14.4 percent and electricity almost 12 percent

Infometrics chief executive Brad Olsen says fruit and vegetables are cheaper - but not meat.

"A couple of months ago, right, we were talking a lot about butter. Mince is now the new butter in a sense, given that that's increased, I think, $23 a kilo."

LISTEN ABOVE