No Signs of Food Price Relief as Supplier Costs Rise 10% Over Past Year
November 7, 2022
There’s little chance grocery price inflation will ease off in the short term, according to an index measuring costs of supplying supermarkets
Cost increases from grocery suppliers to the Foodstuffs co-operatives continued to accelerate last month, as the largest number of items in five years increased in cost.
The Infometrics-Foodstuffs New Zealand Grocery Supplier Cost Index (GSCI) showed a 10 percent a year rise in October.
Produce, butchery, and seafood supplier costs were up by more than 10 percent over the last year, with frozen foods close behind at 9.8 percent a year, according the index.