StatsNZ has released the consumer price index for March 2023. For consumers who felt the pinch in food prices in 2022, 2023 has continued the trend of food price inflation.
The new report revealed that the consumer's price index had increased 6.7 percent following the 7.2 percent increase from 12 months to December 2022.
"Inflation is still at levels not seen since the 1990s," consumer prices senior manager Nicola Growden said.
The most significant contributor to the March 2023 annual inflation rate was food due to the increased prices for vegetables, ready-to-eat food, milk, cheese, and eggs.
In the monthly comparison between February and March 2023, fruit and vegetable prices rose 0.5 percent, down 0.6 percent after seasonal adjustment. Following this, meat, poultry, and fish prices fell one percent, and grocery food prices increased by 2.3 percent, up 2.1 percent after seasonal adjustments.
Non-alcoholic beverage prices increased by 0.2 percent. Meanwhile, restaurant and ready-to-eat meals increased by 0.5 percent.
Comparisons between March 2022 and March 2023 revealed increases across the board. Fruit and vegetables have increased by 22.2 percent. Meat, poultry, and fish prices increased by 7.8 percent, and grocery food prices increased by 13.7 percent. Restaurant and ready-to-eat meals increased by 8.7 percent.
