WELLINGTON, Aug 15 (NNN-RNZ) – New Zealand’s food prices rose five percent in the year, to July, up from 4.6 percent the year before, the statistics department, Stats NZ, said today.
The grocery food group rose 5.1 percent, led by dairy price hikes, with milk up 16 percent, butter 42.2 percent, and cheese 29.5 percent, Stats NZ said, adding that, since July, 2020, milk prices have jumped nearly 34 percent, the biggest driver of overall food inflation.
Meat, poultry, and fish prices rose 7.9 percent, led by beef steak up 24.6 percent and mince 19.3 percent, while fruit and vegetables climbed 7.3 percent, non-alcoholic drinks 4.4 percent, and restaurant meals 2.2 percent.
In contrast, rent prices increased 2.4 percent in the year to July, the slowest rate of increase since 2011, said Stats NZ prices and deflators spokesperson, Nicola Growden.– NNN-RNZ
