Food prices storming higher

(Image: Getty)

Tue, 14 Jun 2022

New Zealanders felt more pain at the checkout as food price inflation showed no sign of abating in May despite trumpeted efforts by supermarkets to slow down price increases.A 10% annual lift in fruit and vegetable prices and a 7% jump in meat, poultry and fish prices, saw annual food price inflation hit 6.8% in May. That pace prompted ASB economist Mark Smith to speculate the Reserve Bank may have to raise interest rates even faster. "Average prices for grocery food items like yoghurt, milk, and cheese were all notably higher than th...

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