March 13, 2023 3:00pm by David Farrar

Food price inflation hits 12%

The latest Stats NZ data is very grim, with food inflation hitting 12% over the last 12 months.

Since Labour was re-elected, the total increase in food prices has been:

  • Fruit and Vegetables 40.3%
  • Meat etc 15.3%
  • Grocery food 18.8%
  • Total food 19.1%

This is the highest level of food inflation NZ has ever had, since the Food Price Index started in 2000.

The 40% increase in fruit and vegetables over barely two years is massive. As a comparison fruit and vegetables prices only increased 18.9% over the nine years of the Key/English Government.