New Zealand's Food Prices up 8.9% Year-on-year

New Zealand's annual food prices were 8.9 per cent higher in August 2023 than in the corrensponding month last year, indicating a slower growth, the statistics department said on Wednesday.

Stats NZ said that last month's figure showed the annual food prices were 9.6 per cent higher in July 2023 than in July 2022, reports Xinhua news agency.

In August, the annual increase was due to rises across all the broad food categories measured, Stats NZ's consumer prices manager James Mitchell said.

The largest contributing food group was grocery food, which includes non-perishables and dairy products, Mitchell said, adding fresh eggs, potato crisps, and six-pack yogurt were the largest drivers within grocery food.

The second largest contributor to the annual movement was restaurant meals and ready-to-eat food, he said, adding the increase in this group was driven by the same contributors as last month, which were dine-in lunch or brunch, takeaway meals, and dine-in evening meals.

"Prices for fruit and vegetables such as tomatoes, grapes, cucumbers, and nectarines contributed the most to the overall monthly rise," Mitchell said.