Photo / Frankie Fouganthin/Creative Commons
Food prices have kept rising rapidly, with fruit and vegetables 22 per cent more expensive in June than a year earlier.
New Stats NZ data showed overall food prices increased 12.5 per cent in the year ending June.
Meat, poultry, and fish prices surged 11.0 per cent, Stats NZ said this morning.
Grocery food prices were up 12.8 per cent year-on-year.
The only categories rising by single-digit figures were non-alcoholic beverage prices, up 9.7 per cent, and restaurant and ready-to-eat food prices, increasing 9.2 per cent.
The 12.5 per cent overall jump in prices was higher than the annual increase recorded in May and matched the amount recorded in the year to April 2023.
That is the highest amount recorded since 1987. And it dashes hopes prices may have peaked in May.
“Increasing prices for fresh eggs, six-pack yoghurt, and cheddar cheese were the largest drivers within grocery food,” Stats NZ consumer prices manager James Mitchell said.
The second largest contributor to the annual increase was fruit and vegetables.
“The increase in this group was driven by tomatoes, kūmara, and potatoes,” Stats NZ added.
Inflation has proven to be a stubborn adversary for many central banks in recent months.
And globally, Russia’s invasion of Ukraine and Covid-related supply chain logjams have caused some disturbances to food prices.
Domestically, New Zealand experienced a rash of extreme and damaging weather events in summer, including Cyclone Gabrielle.
In June, overall food prices were 1.6 per cent higher than in May this year, Stats NZ said after seasonal adjustment, the increase was 0.9 percent.
In the month alone, fruit and vegetable prices were up 2.0 percent after seasonal adjustment.
That was significantly more than inflation for meat, poultry, fish prices, non-alcoholic beverages and restaurant meals.
- NZ Herald