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Meals costs in New Zealand have been 6.3 % increased than a yr in the past however have been cheaper in October 2023 than a month earlier, in line with figures launched by Stats NZ at this time.
Throughout October the annual improve was on account of value rises throughout the 5 broad meals classes measured by Stats NZ.
Worth actions for all 5 teams for the 12 months to October 2023, so as of their contribution to the general motion, have been:
restaurant meals and ready-to-eat meals costs elevated 7.7 %
non-alcoholic drinks costs elevated 5.7 %
meat, poultry, and fish costs elevated 3.3 %
fruit and greens costs elevated 3.3 %.
grocery meals costs elevated 7.9 %
“The most important contributing meals group was grocery meals, primarily pushed by increased costs for recent eggs, potato crisps, and yoghurt,” mentioned James Mitchell, Shopper Costs Supervisor.
The rise for restaurant meals and ready-to-eat meals, the second largest contributor to the annual motion, was pushed by eat-in-brunch/lunch, takeaways, and restaurant night meals.
Month-to-month meals costs fell 0.9 % in October 2023 in contrast with September 2023. After adjusting for seasonal results, they fell 0.1 %.
“Costs fell throughout the board in October, with solely eating out and takeaway meals being costlier than in September,” Mitchell mentioned.
The fruit and greens subgroup was the most important contributor to the month-to-month fall, adopted by grocery meals. The grocery gadgets that contributed probably the most to the month-to-month fall have been cheese, white bread, and muesli bars.
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