7 Aug 2023

Food prices continue to rise

From Morning Report, 8:24 am on 7 August 2023

The cost of food is still rocketing up, but not as much as it has been in the past.

That's according to Infometrics' latest crunching of supermarket data for July showing their costs are up about 7-and-a-half percent year on year, lower than an earlier peak of around 10-and-a-half-percent.

The grocery supplier cost index is based on how much Foodstuffs is paying growers and distributors for food products.

Infometrics' chief executive Brad Olsen spoke to Ingrid Hipkiss.