Food Prices in New Zealand Rise 8.0% Annually – October 12, 2023

In September 2023, food prices in New Zealand experienced a substantial 8.0% increase compared to the same month in 2022, as reported by Stats NZ.

Annual Changes

The primary contributing factor to this surge was the grocery food category, encompassing non-perishables and dairy products. Notably, items like fresh eggs, potato crisps, and lollies were the major drivers within this category.

The annual increase for the year ending September 2023 was characterized by rises across all broad food categories measured by Stats NZ. The food groups and their respective percentage changes were:

  1. Grocery Food Prices: Increased by 10.7%
  2. Restaurant Meals and Ready-to-Eat Food Prices: Increased by 8.6%
  3. Meat, Poultry, and Fish Prices: Increased by 6.9%
  4. Non-Alcoholic Beverage Prices: Increased by 8.3%
  5. Fruit and Vegetables Prices: Increased by 1.4%

Monthly Changes

In contrast, monthly food prices saw a slight decline of 0.4% in September 2023 compared to August 2023. After adjusting for seasonal effects, there was a marginal increase of 0.1%.

The monthly fall was notably influenced by decreasing prices for fruit and vegetables, including items such as tomatoes, cucumbers, and lettuce.

These figures provide insights into the economic landscape, reflecting the ongoing dynamics in food pricing, with notable impacts on consumers’ expenditure.