Food price increases at decade-high levels

The price of a tomato has doubled in the past 12 months. (Image: Deposit Photos)

Thu, 20 Jan 2022

Steep price increases for vegetables like tomatoes, cabbage, broccoli and lettuce helped drive food prices up 4.5% in 2021.The annual increase in the food price index was the highest recorded since August 2011.It is yet more evidence of building inflationary pressures in the New Zealand economy that yesterday prompted ANZ economists to lift their official cash rate forecast to 3%. The biggest increases in food prices came in vegetable staples. Tomatoes doubled in price in the past year, while cabbage prices were up 63%.Lettuce, Onions and Brocc...

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