New Zealand Food prices grow by 6.8 percent, Stats NZ says

July 17, 2022

WELLINGTON – New Zealand’s food prices were 6.6 percent higher in June than a year earlier, the country’s statistics agency Stats NZ said on Wednesday. The increase in food prices in June was attributed to rises across all the broad food categories measured, with grocery food prices increasing by 7.6 percent from June 2021, which is the largest hike among all categories, Stats NZ said. “Increasing prices for milk, potato crisps, and yogurt were the largest contributors within grocery food,” consumer prices manager Fiona Smillie said in a statement. The second-largest contributor to the June price hike was restaurant meals and ready-to-eat food. The items within this group that influenced this movement the most were eat-in restaurant meals, she said. Data showed New Zealand’s food prices were 1.2 percent higher in June compared with May, with fruit and vegetable prices being the largest contributor to the monthly movement due to seasonal factors.

For the 12-month period, grocery food prices increased 7.6 per cent; restaurant meals and ready-to-eat food prices increased 6.3 per cent; meat, poultry, and fish prices increased 6.8 per cent; fruit and vegetable prices increased 5.5 per cent; and non-alcoholic beverage prices increased 4.8 per cent.

Broken down by categories, Stats NZ said grocery food prices increased year-on-year by 7.4 percent, restaurant meals by 6 percent, fruit and vegetables 10 percent, meat, poultry and fish 7 percent and non-alcoholic beverages were up 2.7 percent.

Stats NZ said grocery food was the largest contributor to the overall price increases.

“Average prices for grocery food items like yoghurt, milk and cheese were all notably higher than they were in May 2021,” said Stats NZ consumer prices manager Katrina Dewbery.

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