Food prices rising fastest since 2023
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123RF
Annual food prices have risen at their fastest pace since late 2023, driven by strong dairy and meat prices.
Stats NZ says food prices rose 5 percent in the year ended July, compared to a 4.6 percent rise the month before.
Dairy prices rose sharply, with increases in milk, butter and cheese.
Butter prices were up 42 percent from a year ago, with the average cost of a 500g block at $8.59.
Meat, poultry and fish prices are also up nearly 8 percent from a year ago.
More to come.
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