Food Prices 7.4% Higher in July 2022, Compared To July 2021
Eastern Bay shoppers continue to feel the pinch at the supermarket.
Stats NZ announced last week, food prices were 7.4% higher in July 2022 compared with July 2021.
In July 2022, the increases were due to rises across a broad range of categories:
grocery food prices increased by 7.5%.
restaurant meals and ready-to-eat food prices increased by 6.6%.
fruit and vegetable prices increased by 10%.
meat, poultry, and fish prices increased by 7.7%.
non-alcoholic beverage prices increased by 4.6%.
Consumer Prices Manager Fiona Smillie said, “Increasing prices for cheddar cheese, standard two-litre milk, and yoghurt were the largest contributors within grocery food."
Restaurant meals and ready-to-eat food proved to be the second largest contributor to the movement. This was most influenced by eat-in lunch/brunch meals and ethnic takeaway meals (not including Chinese takeaways).
Stats NZ noted the 10% increase in fruit and vegetable prices were a key driver to the monthly movement. After adjusting for seasonal effects, fruit and vegetables were up 3.1%. This indicates that whilst seasonal impacts drove most of the movement, after removing these impacts fruit and vegetables still increased by 3.1%.
“Vegetables had the largest impact on this increase, influenced by higher prices for tomatoes, lettuce, and broccoli.” Smillie said.