13 Oct 2022

Food prices: Annual increase remains at 8.3%, biggest rise since 2009

3:42 pm on 13 October 2022
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The annual increase for food prices was 8.3 percent in September, the highest since July 2009, Stats NZ said. Photo: 123rf

The annual food price increase remains at a 13-year-high, driven by rises across a broad range of items.

Stats NZ says the annual increase for food prices was 8.3 percent in September, the highest since July 2009.

It was the same level of annual increase as August.

Grocery food prices rose 7.7 percent and was largest contributor to the movement in the overall food price increase.

"Increasing prices for yoghurt, two-minute noodles, and tomato-based pasta sauce were the largest drivers within grocery food," Stats NZ consumer prices manager Katrina Dewbery said.

Fruit and vegetable prices was the second biggest contributor to annual food price movement, rising 16 percent.

The biggest drivers within the category were capsicums, tomatoes and broccoli.

Among other categories, restaurant meals and ready-to-eat food prices increased 6.9 percent compared to a year ago.

Meat, poultry and fish prices increased by 6.7 percent and non-alcoholic beverage prices increased by 4.8 percent.

Monthly food prices were 0.4 percent higher in September compared with August after seasonal adjustments, Stats NZ said.

Fruit and vegetables fell 0.1 percent month-on-month, but after seasonal adjustments rose 3.9 percent.

"This seasonal movement for fruit and vegetables indicates that based off previous patterns a larger fall in fruit and vegetables for the September month is more typical," Dewbery said.

"This helps explain why the overall seasonally adjusted movement is higher than the unadjusted increase."

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