Covid 19 coronavirus: Huge price hikes for essential goods during lockdown

A freezer that cost $949 on March 1 shot up to $1499 by March 31 as lockdown conditions limited trade across the country.

This is just one of a number of products to have seen significant price hikes during the lockdown, according to price comparison site PriceSpy.

The indexed price across all 108,000 products listed on PriceSpy increased by 5 per cent in March 2020.

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The biggest growth was seen in chest freezers which surged by 28 per cent between March 1 and 31. What's more is that 90 per cent of the chest freezers listed were found to cost more by the end of the month.

Webcams, heating and cooling products, washing machines, desktop PCs and ebook readers all shot up in price over this period.

"Shockingly, the findings revealed 90 per cent of the top 10 most-click-on chest freezers cost more to buy on 31st March compared to 1st March, before the national Covid-19 alert system was implemented," said Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy.

"Similarly, over three quarters [80 per cent] of the top 10 most-clicked-on webcams were more expensive to purchase at the end of the month compared to the start. A similar trend was also apparent for whiteware goods, with 70 per cent of the top 10 most-clicked-on items costing more on 31st March compared to 1st March."

Matinvesi-Bassett said that while fluctuations in pricing are to be expected, the price hikes in this instance have been "extraordinary".

"If we are to compare like-for-like and look at the biggest savings offered across the top 10 most -clicked-on products across the same shopping categories, the most substantial saving found was for the Apple Mac Mini (2018), which cost $190 less on 31st compared to 1st March," she said.

"During such unprecedented times, our key piece of advice to consumers who need to make an essential purchase right now is to be vigilant and conduct important price research before they commit and buy, as our insights suggest many products have received a price hike over this last month."

This data comes off the back of the Government's decision to allow certain retailers to sell a number of essential goods to get New Zealanders through the lockdown.

The move allowed the likes of the Warehouse, Noel Leeming, Briscoes and Mitre 10 to sell essential goods, such as heaters, whiteware and computers.

The decision was made in recognition of the need for people to safely isolate, stay connected to one another and work or study from home.

The stores have, however, faced massive demand as Kiwis rushed online to get their hands on essentials.

Key products include heaters, dehumidifiers, light bulbs and globes, hand tools, padlocks, firewood, batteries, sealants and silicones, work boots and gumboots, workwear, torches, spouting, downpipes, smoke alarms, child safety items and small household appliances.

• Covid19.govt.nz: The Government's official Covid-19 advisory website