Food prices down in December, annual price increase slows

Fruit and vegetables were up 2.5 per cent last month compared to November but there was relief for consumers in other areas of grocery shopping. Photo / Getty Images

Food prices last month were 4.8 per cent higher than a year earlier but the pace of price increases has slowed. And food costs in December were lower than a month before, Stats NZ said today.

The agency’s selected price indexes released today found fruit and vegetables were up 2.5 per cent last month compared to November.

But meat, poultry, and fish, grocery food, non-alcoholic beverages and alcoholic beverages were all cheaper month-on-month.

In terms of annual price increases. all five broad food categories Stats NZ measured were up - but were the lowest annual food price increases since December 2021.

Restaurant meals and ready-to-eat food was 7.1 per cent more expensive than in December 2022.

Grocery food prices were up 5.4 per cent and non-alcoholic beverage prices up 5.5 per cent.

Meat, poultry, and fish prices rose 2.3 per cent over the year.

And fruit and vegetable prices were up 1.5 per cent.

Transport

Petrol was 4.8 per cent cheaper compared to November but 12.5 per cent more expensive than a year earlier. Diesel was down 7.4 per cent in the month and 7.5 per cent over the year.

International air travel compared to November was up greatly, as might be expected for the Christmas holidays, rising 42.0 per cent. But over the year, international air transport was 15.2 per cent cheaper.

Domestic air travel was up 6.9 per cent compared to November 2023 but only up 0.2 per cent compared to a year earlier.

Domestic accommodation costs in December were up 2.7 per cent compared to the previous month and rose 11.2 per cent over the year.