Food prices increased by 0.4% in the 12 months to August, according to Stats NZ figures released today.
It follows a 0.6% rise in the 12 months to July.
The increase was driven by higher prices for restaurant meals and ready-to-eat food (up 3.6%) and grocery food (up 2.4%).
Stats NZ said the price increase in restaurant meals and ready-to-eat-food was driven by increases for lunch, brunch, hamburgers and takeaway coffees.
The price increase in grocery food was largely due to higher prices for olive oil, chocolate blocks, and butter, the agency said.
“The average price of a 250g block of chocolate has increased 20% since this time last year,” said consumer prices manager James Mitchell.
Decreasing prices in fruits and vegetables had the largest contribution to food prices despite the overall increase.
The 12.2% year-on-year decrease was driven by lower pricing for kūmara, potatoes, and lettuce.
Transport prices decrease
Transport prices fell over the past year with petrol prices, diesel prices and airfares all decreasing.
Those categories also saw month-on-month decreases.
In August 2024, petrol prices fell 1.7% compared to July while diesel prices fell 2.8% compared to July.
“Petrol prices fell in all centres we collect prices for in New Zealand, except for Whangārei, which recorded a slight increase in August,” Mitchell said.
“The decrease in August was much more widespread than in July, when only Auckland recorded a decrease, due to the ending of the Auckland regional fuel tax.”
