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Financial News: New Zealand Food Prices Spike 10.1% On Year

New Zealand Food Prices Spike 10.1% On Year In October

11/10/2022 - 17:15:00 (RTTNews)

(RTTNews) - Food prices in New Zealand surged 10.1 percent on year in October, Statistics New Zealand said on Friday - accelerating from the 8.3 percent increase in September.

Individually, fruit and vegetable prices increased 17 percent on year; while meat, poultry, and fish prices increased 10 percent; grocery food prices increased 9.7 percent; non-alcoholic beverage prices increased 8.7 percent; and restaurant meals and ready-to-eat food prices increased 7.5 percent.

On a seasonally adjusted monthly basis, food prices jumped 1.8 percent.

Individually, fruit and vegetable prices rose a seasonally adjusted 1.3 percent on month; while meat, poultry, and fish prices rose 2.7 percent; grocery food prices rose 2.0 percent; non-alcoholic beverage prices rose 2.0 percent; and restaurant meals and ready-to-eat food prices rose 1.0 percent.

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