Statistics New Zealand reported that the latest annual food price increase was 10.1 percent higher in October 2022 than in October 2021. Fruit and vegetables saw the highest category increase at 17 percent, and monthly food prices were up 0.8 percent.
“This was the highest annual increase since November 2008,” said Nicola Growden, Consumer Prices Senior Manager.
The annual increase was due to rises in all the broad food categories measured by Stats NZ. Grocery food prices rose 9.7 percent, meat, poultry and fish rose ten percent, and non-alcoholic beverages increased 8.7 percent.
“Increasing prices for barn-raised eggs, cheddar cheese, and two-minute noodles were the largest drivers within grocery food.”
Monthly food prices for October were 0.8 percent higher than in September. After adjusting for seasonal effects, the increase moved to 1.8 percent. Increases were seen in 125 of the 162 items Stats NZ measures. This rise was also led by barn-raised eggs and cheddar cheese, but also potato crisps.
