Stats NZ has documented a 0.3% decrease in food prices in New Zealand for the year ending June 2024, the first annual downturn since August 2018. This reduction was attributed to lower prices for key items such as tomatoes, cheese, and potatoes, as stated by consumer prices manager James Mitchell.
The period also saw a significant drop in the cost of fruit and vegetables, and meat, poultry, and fish, decreasing by 16.1% and 1.4% respectively. Mitchell highlighted that the decline in fruit and vegetable prices from June 2023's peak is unprecedented since records began.
Conversely, all other major food categories witnessed price increases over the same timeframe, with the cost of dining out or ordering takeaways up by 4%. Despite the overall annual price decrease, food prices in June were higher than in any month over the past year except for May, making it the third highest level recorded since 1961.
Source: nzherald.co.nz