13 Sep 2023

Grocery prices up 10 percent, but rises slowing

1:05 pm on 13 September 2023
Woman shopping with trolley, holding receipt of grocery items, with food in handing, checking prices.

Photo: 123RF

Grocery prices rose 10.6 percent over the past year, but food price inflation has slowed to its lowest level in nearly a year.

Stats NZ said food prices increased by just 0.5 percent last month, compared with July.

The annual increase in food prices was 8.9 percent, which is the lowest increase since September last year.

"The largest contributing food group was grocery food, which includes non-perishables and dairy products," consumer prices manager James Mitchell said.

"Fresh eggs, potato crisps, and six-pack yoghurt were the largest drivers within grocery food."

All the main food categories gained during the year - with restaurant meals and ready-to-eat food prices the second main influence with an increase of 8.9 percent. Meat, poultry, and fish, increased 8 percent; non-alcoholic beverage prices increased 9.1 percent; and fruit and vegetables prices increased 5.4 percent.

In August, fruit and vegetable prices went up by 3.3 percent, and there was a slight increase in the cost of takeaway meals.

Food prices make up just under a fifth of the consumer price index, and the latest numbers will help slow down the overall inflation rate.

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