12th May 2022 FPI / Prices
Price rises for cheddar cheese, milk, and eggs meant annual food inflation remained high in April, although eased from the 10-year record reported for March.
Fruit a vegetable prices were up 18% in last month’s FPI, but the pan-produce organisation said this should ease.
Fruit and vegetable prices jumped 18% over the year with meat, poultry, and fish prices up almost 9%.
Food prices continue their upward trajectory, with fruit and vegetables jumping 17% on a year ago.
The National Party says households are going backwards and pay packets are failing to keep up with the rising cost of food.
Annual food prices rose in 5.9% with widespread increases seen in January.
Food prices eased marginally in October however the annual growth rate was well-above the long-term average, says Stats NZ.
Seasonally adjusted food prices were up 0.9% on the month prior in September as higher priced chicken and eggs came home to roost.
Food prices rose 1.3% in July compared with the previous month, mainly influenced by fruit and vege price hikes.
Food price rose 0.4% in May compared with the month prior when rising prices for tomatoes and cucumbers contributed to a 1.1% jump, according to Stats NZ.
Rising prices for tomatoes and cucumbers were the main contributors to a 1.1% rise in food prices in April 2021, according to Stats NZ.