Food inflation jumps 12.5%, highest in 36 years

Price rises of tomatoes, capsicums and lettuce are key drivers. (Image: Depositphotos)

Thu, 13 Jul 2023

Statistics New Zealand reported annual food inflation was up 12.5% in June, driven by a 22% jump in fruit and vegetable prices and a 12.8% hike in groceries.That matched April's percentage change and is the highest annual change to the food price index since September 1987, when it was 15.8%. GST was introduced in October 1986 at a 10% rate.Key drivers for fruits and vegetables were tomatoes, capsicums and lettuce, while grocery items like fresh eggs, yoghurt and cheddar cheese bit the most into supermarket spending.Month-on-month prices we...

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