The Infomertrics-Foodstuffs New Zealand Grocery Supplier Cost Index reported a 10.2 rise for November 2022. The cost increases remain broad-based, with grocery and general merchandise department supplier costs up over eight percent in November 2022.
“In November 2022, there were 7,800 items increased in cost, nearly three times as many items as in November 2019 (pre-pandemic). More of these cost increases continue to be of a larger magnitude, with just over 11 percent of cost changes being for increases of more than 20 percent in cost,” said Brand Olsen, Infometrics Principal Economist and Director.
“Recent acceleration in the costs of less volatile items like general grocery goods reinforces pervasive cost pressures. Continued large increases in on-farm costs and imported food costs demonstrate the upstream effects of higher input costs being felt further down the supply chain and risks greater cost pressure persistence.”
“These trends underscore the sustained broadness of cost increase, with suppliers passing on higher input costs.”
