Thursday, April 25, 2024

Food price inflation slows ever so slightly

Avatar photo
Fruit and veg the second-largest contributor to annual increase.
The price of fruit and vegetables rose by 18.7% in the 12 months to May.
Reading Time: < 1 minute

Annual food price inflation eased slightly in the 12 months to May, down to 12.1% from 12.5% in April.

“Increasing prices for fresh eggs, potato chips and lollies were the largest drivers within grocery food,” Statistics NZ consumer prices manager James Mitchell said.

The second-largest contributor to the annual movement was fruit and vegetables, up by 18.7%. The increase was driven by avocados, kūmara, potatoes and tomatoes.

Grocery food was up 12.7%, while meat, poultry and fish were up 11.6% and and non-alcoholic beverages were up 11.7%.

Increases in restaurant and ready-to-eat food came in at 8.7%.

Monthly food prices were up 0.3%, or 0.5% on a seasonally adjusted basis.

People are also reading