December 13, 2022 11:43am by David Farrar

Food inflation close to 11%

Stats NZ reports:

Food prices were 10.7 percent higher in November 2022 compared with November 2021, Stats NZ said today. 

In November 2022, the annual increase was due to rises across all the broad food categories we measure. Compared with November 2021:

  • grocery food prices increased by 10 percent
  • fruit and vegetable prices increased by 20 percent
  • restaurant meals and ready-to-eat food prices increased by 8.0 percent
  • meat, poultry, and fish prices increased by 12 percent
  • non-alcoholic beverage prices increased by 7.8 percent.

This is the highest level of food inflation since 1989, except for one month in Sep 2008 when it hit 10.8%.