7 Nov 2022

New data shows rising grocery prices likely driven by suppliers

From Morning Report, 7:36 am on 7 November 2022

There's little chance that grocery price inflation will be easing off in the short term, according to new data out today.

It reveals the country saw the largest number of items in five years increase in cost in October.

The Infometrics-Foodstuffs New Zealand Grocery Supplier Cost Index shows a year-on-year rise of 10%.

More than five times the usual amount of items were "recosted" before being put on supermarket shelves last month.

The survey suggests the soaring prices are being driven by suppliers.

Infometrics principal economist Brad Olsen spoke to spoke to Māni Dunlop.