Food prices increase 8.3 percent annually, the largest in 13 years
Ōtepoti - Aotearoa food prices were 8.3 percent higher last month compared with August last year, Stats NZ says. This is the largest annual increase since July 2009, when annual food prices increased 8.4 percent.
In August 2022, the annual increase was due to rises across all the broad food categories measured. Compared with August 2021:
grocery food prices increased by 8.7 percent
fruit and vegetable prices increased by 15 percent
restaurant meals and ready-to-eat food prices increased by 6.5 percent
meat, poultry, and fish prices increased by 7.6 percent
non-alcoholic beverage prices increased by 4.1 percent.
Increasing prices for eggs, yoghurt, and cheddar cheese were the largest drivers within grocery food,” Stats NZ consumer prices manager Katrina Dewbery says.
The second-largest contributor to the annual movement was fruit and vegetables. The items within this group that influenced this movement the most were capsicums, potatoes, and onions.
Monthly food prices were 1.1 percent higher in August 2022 compared with July 2022. After adjusting for seasonal effects, they were up 0.9 percent.
A 4.1 percent rise in fruit and vegetable prices was the largest contributor to the monthly movement. After adjusting for seasonal influence, fruit and vegetables were up 2.3 percent.
“Vegetables had the largest impact on this monthly rise, influenced by higher prices for tomatoes, capsicums, and cabbage,” Dewbery says.
The second-largest contributor to the monthly movement was grocery food, which rose 1.0 percent. This was driven by rising prices for eggs (up 6.7 percent), yoghurt (up 4.7 percent), and chocolate biscuits (up 7.1 percent).
NEW ZEALAND | November 20, 2024 – Festival passes for the highly anticipated Crankworx Summer Series Christchurch and Crankworx Rotorua 2025 are officially on sale, with updates to both festivals designed to give back to fans, delivering the ultimate experience in mountain biking.