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.
“As a result of this price rollback our stores will be selling some items below cost,” according to Foodstuff NZ boss Chris Quin.
The Great Price Winter Freeze takes in mostly private label items, with a handful of independent brands, but what will happen if costs go up?
The value of total good exports rose strongly in March 2022, driven by increases in dairy products, beef, and aluminium.
The annual CPI inflation rate for the March 2022 quarter reached 6.9% – the largest movement since a 7.6% annual increase in the year to the June 1990 quarter, said Stats NZ.
People must consider the impact cheap food has on the environment and whether there are better ways to help struggling families.
Minister David Clark feels the heat from surging food prices and says he has not ruled out going further than ComCom’s grocery market recommendations.
Overpackaging and non-recyclable packaging is a top concern for New Zealanders, according to new research by Kantar.
The Māori Party has announced a policy to remove GST from all kai to ease the burden on households struggling through the cost of living crisis.
Vegetable prices will continue to surge ahead if the government doesn’t help growers find ways to lower costs, according to Horticulture New Zealand.
Hospitality and accommodation operators may still have to put up prices despite the fuel and transport cost cuts announced by the government, says Hospitality New Zealand.
Food prices continue their upward trajectory, with fruit and vegetables jumping 17% on a year ago.
Consumer New Zealand research has found 98% of people are worried about the rising price of groceries.
Producer input prices rose 1.1%, while producer output prices rose 1.4% in the December quarter, led by dairy and construction.
Food prices rose for the fifth consecutive month in August mainly due to higher prices for meat, poultry and fish, and restaurant meals and ready-to-eat food, according to Stats NZ.
Pricing for New Zealand beef remains strong despite turbulence in global beef markets, according to Rabobank’s latest Global Beef Quarterly report.
Inflation for the all households group, as measured by the household living-costs price indexes was 1.1% in the June 2021 quarter.
Capsicum prices jumped 27% to a weighted average price of $24.16 per kilogram, an all-time high.
As air freight costs soared due to Covid-19 border closures, so did the price of exporting.
Preliminary issues paper released ahead of review into NZ’s highly concentrated sector
The department says prices tend to fall in October as fruit and vegetables follow seasonal trend.
Covid-19 has driven the price of tomatoes to an all-time high, according to Stats NZ.