It's all about economics
OPINION: According to media reports, the eye-watering price of butter has prompted Finance Minister Nicola Willis to ask for a 'please explain' from her former employer Fonterra.
The research, conducted by survey company Pure Profile, also revealed that 35% of respondents’ weekly supermarket shop has increased by $50 - $100.
The results come as Stats NZ announced a 7.5% annual rise in grocery food prices.
Stats NZ Consumer prices manager Fiona Smillie says dairy products seem to be the major contributor to the rise.
“Increasing prices for cheddar cheese, standard two-litre milk, and yoghurt were the largest contributors within grocery food,” says Smillie.
Hello Fresh director culinary innovations & operations Hannah Gilbert says meal planning is one way to stick to a food budget, “allowing you to enjoy quality ingredients without breaking the bank”.
“One of the biggest ways households spend more than they need to is through food waste, with leftover ingredients ending up in the bin,” says Gilbert.
Also impacting monthly food prices, according to Stats NZ, is the rising costs of fruit and vegetables.
A 10% increase in fruit and vegetable prices was recorded for July 2022.
After adjusting for seasonal effects, fruit and vegetables were up 3.1%, indicating that while seasonal impacts drove most of the movement, after removing these impacts fruit and vegetables still increased by 3.1%.
“Vegetables had the largest impact on this increase, influenced by higher prices for tomatoes, lettuce, and broccoli,” says Smillie.
