Food inflation hits 12.5%
Stats NZ reports:
“The 12.5 percent annual increase in April 2023 was the largest since September 1987 which included the introduction of GST in 1986,” consumer prices manager James Mitchell said.
So this is the greatest food price inflation in a generation.
This is how much food prices have increased since 2017:
- All food 27%
- Fruit 35%
- Vegetables 46%
- Cheese 43%
- eggs 104%
Who has had their income go up 27% to cover a 27% increase in food costs?