12 Aug 2022

Cost of living: Food prices increase 7.4 percent annually

1:58 pm on 12 August 2022

Three grocery store items saw significant price increases over the past year, contributing to an overall annual food price rise.

Close-up detail of a woman shopping in a supermarket

Food prices have increased by 7.4 percent annually Photo: 123RF

Last month's food prices were up 7.4 percent over last year's, with increases across a broad range of items.

StatsNZ said 7.5 percent increase in grocery food prices was the largest contributor to the overall annual increase.

Cheddar cheese, milk and yoghurt all saw significant price rises.

In fact, the price of cheddar cheese was up 4.5 percent, and eggs - cage or barn-raised - were up 4.2 percent.

The second-largest contributor to the annual increase was restaurant meals and ready-to-eat food, increasing by 6.6 percent.

Meat, poultry, and fish prices increased by 7.7 percent.

Monthly food prices rose a seasonally adjusted 2.1 percent, mostly driven by higher prices for fruit and vegetables.

Higher prices for tomatoes, lettuce, and broccoli all influenced the rise.

Get the RNZ app

for ad-free news and current affairs