New Zealand’s food prices have seen the lowest annual increase since December 2021, with a rise of 4.8%, according to the country’s statistics department Stats NZ. In December 2023, the annual increase was attributed to higher prices across all measured food categories. Restaurant meals and ready-to-eat food prices surged by 7.1%, while grocery food prices increased by 5.4%.
Non-alcoholic beverage prices rose by 5.5%, and meat, poultry, and fish prices saw a 2.3% increase. Fruit and vegetable prices recorded a 1.5% uptick. The main contributor to the annual change was restaurant meals and ready-to-eat food, primarily driven by elevated prices for dine-in meals and takeaways. Monthly food prices experienced a 0.1% decline in December 2023 compared to November 2023, marking the fourth consecutive monthly fall.
The shift was led by lower prices for non-alcoholic beverages, including fizzy drinks and energy drinks, along with other items like tomatoes, nectarines, and lamb. Data indicates that 45% of items fell in price in December 2023, compared to 39% in the same month in 2022. Stats NZ noted that the recent changes in food prices align with patterns observed before 2020.