December 2022 saw the largest annual increase in food prices since April 1990, when prices went up 11.4 percent. December 2022 saw prices rise 11.3 percent from December 2021.
The increase was due to a rise across all the broad food categories measured by StatsNZ. Grocery food prices increased by 11 percent, fruit and vegetable prices increased by 23 percent, restaurant meals and ready-to-eat food increased by 7.8 percent, meat, poultry, and fish prices increased by 11 percent, and non-alcoholic beverage prices increased by 7.3 percent.
“Increasing prices for cheddar cheese, barn or cage-raised eggs, and potato chips were the largest drivers within grocery food,” said James Mitchell, Consumer Prices Manager.
Kiwifruit, potatoes and tomatoes influenced the movement within fruit and vegetables.
Compared to November 2022, food prices in December 2022 increased by 1.1 percent when adjusted for seasonal effects.