Source: Statistics New Zealand
Food prices increase 1.5 percent annually – 16 January 2025 – Food prices increased 1.5 percent in the 12 months to December 2024, following a 1.3 percent increase in the 12 months to November 2024, according to figures released by Stats NZ today.
Higher prices for grocery food and restaurant meals and ready-to-eat food drove the annual increase in food prices, up 2.7 percent and 3.1 percent, respectively.
The price increase in grocery food was due to higher prices for butter, standard 2L milk, and olive oil.
“The price for a 500g block of butter has increased by about 50 percent since this time last year, with an average price of $6.66,” prices and deflators spokesperson Nicola Growden said.
“The same-size block of butter had an average price of $4.48 in December 2023.”
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