Food price increases hit record high as cost of living hurts Kiwis

Food prices were 12.5 percent higher in April 2023 than they were in April 2022, according to figures released by Stats NZ today.

The 12.5 percent annual increase in April 2023 was the largest since September 1987 which included the introduction of GST in 1986.

The National Party has called on the government to prioritise tax relief in response to the latest data.

The party’s finance spokeswoman Nicola Willis has criticised the Labour government for failing to put together a plan to fix the problem, stating that "Kiwi budgets are being crushed by the rising cost of everything, and there's still no sign Labour has put together a plan to fix the problem."

She also accused Finance Minister Grant Robertson of trying to blame events overseas instead of addressing the underlying drivers of inflation.

According to Stats NZ, products made in New Zealand like eggs, potato chips, and yogurt are all major contributors to rising food price inflation.

Produce prices have also continued to soar, with fruit and vegetables up 22.5 per cent.

This means that household budgets are under significant pressure, and many New Zealanders are struggling to make ends meet.

Willis has called for a fresh approach to tackling inflation, stating that National has a plan to beat inflation, restore discipline to government spending, and lift incomes for all.