Annual food prices were 9.6 per cent higher in July of this year compared to the same month last year, Stats NZ reported. Rising costs for fresh eggs, potato crisps, and six-pack yoghurt were the biggest drivers in grocery food, accounting for 11.9 per cent of the increase, according to consumer prices manager James Mitchell. Restaurant meals and ready-to-eat food were the second largest contributors to the annual movement, with an increase of up to 8.9 per cent. Dine-in lunch/brunch, takeout me
out meals, and dine-in evening meals led the increase in this category.
In addition, meat, poultry, and fish prices grew by 9.3 per cent, while fruit and vegetable prices increased by 6.2 per cent.
“While overall food inflation has slowed, it is comparable to the increases we saw in 2008 and 2011,” Mitchell said.
Monthly food costs declined 0.5 per cent in July compared to June, and after adjusting for seasonal factors, they fell 1.1 per cent.
Fruit and vegetable prices, including tomatoes, avocados, and oranges, contributed the most to the overall monthly drop and are also down year on year.
