Food prices increase 8.9 percent annually
Annual food prices were 8.9 percent higher in August 2023 than in August 2022, according to figures released by Stats NZ today.
“The largest contributing food group was grocery food, which includes non-perishables and dairy products,” consumer prices manager James Mitchell said. “Fresh eggs, potato crisps, and six-pack yoghurt were the largest drivers within grocery food.”
In August 2023, the annual increase was due to rises across all the broad food categories Stats NZ measures. The following list shows each food group’s price rise for the year ended August 2023, in order of their contribution to the overall movement:
- grocery food prices increased 10.6 percent
- restaurant meals and ready-to-eat food prices increased 8.9 percent
- meat, poultry, and fish prices increased 8.0 percent
- non-alcoholic beverage prices increased 9.1 percent
- fruit and vegetables prices increased 5.4 percent.
The second largest contributor to the annual movement was restaurant meals and ready-to-eat food. The increase in this group was driven by the same contributors as last month – dine-in lunch/brunch, takeaway meals, and dine-in evening meals.
Monthly change
Monthly food prices rose 0.5 percent in August 2023 compared with July 2023. After adjusting for seasonal effects, they were up 0.4 percent.
“Prices for fruit and vegetables such as tomatoes, grapes, cucumbers, and nectarines contributed the most to the overall monthly rise,” Mitchell said.
Media enquiries
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