Food prices increase biggest in 13 years

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Food prices have risen at their fastest pace in 13 years.

The latest data from Statistics New Zealand shows that food has had an 8.3% annual increase over the last year.

Stats NZ said the next largest contributor to the rising monthly price movement was grocery food, which rose 1.0%. Prices rose in particular for eggs (up 6.7%), yoghurt (up 4.7%), and chocolate biscuits (up 7.1%).

Higher prices were also seen for restaurant meals and ready-to-eat food, with a 6.5% increase recorded. Meat, poultry, and fish prices increased by 7.6% and non-alcoholic beverage prices rose by 4.1%.

Fruit and vegetable prices saw a 15% annual increase compared with August 2021.

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