Cost of living: Annual food prices rise 12.1 per cent – but has food price inflation peaked?
Food prices increased 12.1 per cent in the year to May 2023, Stats NZ said today.
We were very luck that it has come in under last months 12.5% but the real challenge will be August.
At the end of this month the 25cent fuel subsidy will be reapplied and that will impact every single cost.
The silver lining on oil prices is that the Chinese economy has spluttered and is failing and so isn’t using as much oil which is lowering global demand, despite OPEC production cuts.
This becomes way more problematic if OPEC make steeper production cuts to match China’s slowdown.
Either way, petrol inflation which has tempered inflationary pressures is about to reignite.
Food inflation will peak going into the election and that is going to be an enormous political headache for the Government.
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So who were the dummies who killed off the Marsden Pt oil refinery?
The owners of the Marsden Pt refinery.
Let’s do this!
no it was the Superfund and ACC in collusion with Z Energy who were directed by James Shaw under Ardern’s watchful gaze. She had to be seen to be doing something about climate change. Never mind the loss of bitumen and CO2 production. Don’t worry about taking $45 million a year out of Northland’s economy the loss of skilled workers etc etc. This is for the good of the planet and FUCK NZ”s fuel security Jimmy does as Beijing says. Such a good boy!
Destroying a strategic asset simply the reverse of Nation Building. Unfathomable. Wasn’t ever going to reduce oil use. Just provided a barrel for oil companies to bend our country over.
Labour idiots.
Well poor policy and governance by the Labour Government a major factor.
On this site though they will be excused by their supporters.
Another very poorly thought out and horribly inaccurate post. On this site Bob would attack his own grandmother if she was to vote the left bloc.
On this site we are happy to sift through Bob’s bullshit because it’s in every one of his comments.
tbh Bob, I dont recognise who Labour is anymore, they make out they’re left wing but then dont help those at the bottom
Yes Mark I agree.
They are career politicians so winning elections is fundamental to their financial security.
My grandparents were proud Labour stalwarts.
Without any doubt it will go up again,Labour have no policy to combat it.
Sir Ian’s open letter to Chloe is a good read. KBlog posted it.
The Chardonnay lefty explains business and tax very well.
One may well find that Sir Ian contributes to Winston’s election campaign. He feels insulted and rightly so.
Sir Ian is a hero.
Do you have a link to this masterful (?) exposition.
Without any doubt you are an idiot Bob.
Don’t think so NSC I’m relatively successful.
Define success Bob? Regardless, you are an idiot and clearly there is no cure for your idiocy.
How can the government possibly go into the election without promising to totally subsidise/scrap increased costs for farmers (e.g. the Primary Sector C.A.P., a.k.a. the ‘Canoe Embarkment’)?
It is already known that both political parties are ideologically incapable of solving the unpayable debt, aside from resorting to currency devaluation (i.e. an inflationary policy). But the idea that they can also deliberately raise production costs for food, and then still win an election, seems like total madness.
We are so lucky to have a labour government.
Yep.
Loved that irony.
That young boys name was irony Blob?
I think they’re all useless.
It would help if the West wasn’t shooting itself in the foot with all its stupid embargoes against Russia. The US and friends obviously thought it would only be a matter of time before they had free and cheap access to the huge amount of mineral etc wealth that is contained within Russia as the federation fell apart and it engineered colour revolutions to break the continent into easily manipulated small countries. But it doesn’t look like that is going to happen now and the West is stuck with depriving itself of all these.
“At the end of this month the 25cent fuel subsidy will be reapplied and that will impact every single cost.”
100% Martyn. Just in time to rub it in for the election. 🙂
Remember: If you vote for stupid people, you get stupid results: And here we are!
Stupid is what does. You do post here Andrew.
You’ve muddled that up,not surprisingly,Countryboy.
“Stupid is as stupid does.”
How stupid.
Brilliant Bob! You were stupid enough to fall into the trap!
Problem is, if central government tried to regulate it, supermarkets would loophole right through it. This is nothing new. There are documented issues with grocery prices going back to the nineties. Why do you think investors that were worth half a million then are worth eight, ten, twelve times that now?
“Food inflation will peak going into the election and that is going to be an enormous political headache for the Government”.
No worries, they will just pretend it doesnt exist just like every other issue this year. And they will be golden as the MSM probably wont say much (anything?) about it.
Unfortunately, people tend to notice when their card declines and they have to remove items from their supermarket trolley. So the media can say the ship isn’t sinking, but once the water gets up to people’s knees, they tend to notice.
Cards decline? What here in NZ, surely not. Surely National and ACT are happy that their low wage economic policies enable people to have enough income to live on, surely?
Currently we have a Labour Government and have done for nearly 6 years?
Isn’t Labour currently the Government, at least until October.
Yes, yes they are and still cleaning up after Nact’s low wage economy, do keep up lad.
So everyone is happy & content, living in a worker’s paradise.
As opposed to a gangster’s paradise.
Either that or it will give them a great opportunity to announce a wonderful ‘hail mary’ pass that will get the voters onside.
Our domestic food inflation and security is harmed by our own government department of dumb-dumbs at MPI still being consistently incompetent. The border incursions of nasties eg: MBovis, that tomato thingee – are just plain embarrassing. That’s why no one is discussing the real threat to our economy- the worst of the worst food security/animal welfare nightmares is simply only a boat load of Palm Kernel Expeller away, poorly audited, unnecessarily imported from Indonesia and Malaysia; for which no real actionable plan is in place. Ticking time bomb. Get your garden growing folks.
Interest rates will hike to 8-10%. Orr has to respond (even if he just mirrors what US Fed Chairman Powell is doing). Speaking of inflation, why are there no (potentially criminal) hearings regarding the lockdowns, mandates, and blatant disregard for the 1990 Bill of Rights Act during the covid pandemic that lead to this nightmare situation? Don’t use the excuse of “following the science”, the only “science” these people followed was Anthony Fauci (who has his finger in every orifice of the pandemic, from the origin to the “cure”) and Big Pharma.
Well said Nitrium.
Life in NZ is getting more bizarre from $10k/g fruit that used to be a quarter of that price to new tourist ventures going up at incredible prices. This sounds nice
“This is the first and only spa and wellness centre owned by Māori, developed by Māori and will be run by employees that are predominantly Māori, Ngāti Whakaue and Te Arawa. So we’re incredibly proud of that.”
but
According to its website, a 60-minute signature massage and a 60-minute sanctuary bathing session costs $245.
Wai Whakaora is a multi-sensory journey made up of hot and cold experiences, with an introductory price for 90 minutes of $110.
The facility also has a stargazing pool (Tirotiro Whetū) where, for $160, people can lie back and look at the stars for 90 minutes. The stargazing pool also represents Matariki and how tipuna used the stars for navigation.
Not aimed at locals much then or addressing the cost of living in NZ!
Bet we will find A LOT of government officials and woke hanging out there, the few that can afford those prices and have the me me time, by virtue of taxpayers and grants, paying of course!
food inflation is a deliberate policy of BOTH neo-lib parties so no end in sight—EVER
Freezing/cutting the min. wage, healthcare spending or anything else wont cause food prices to drop one bit.
I think no matter who is going for Government this is the hardest thing they will need to convince NZ they can deal with.
Greens – take more from a small pie and give to all.
ACT – take more from a small pie and give to a few,
Labour – Is there a pie – should be a sausage roll.
National – make the pie bigger but sharing could be hard.
Maori Party – We’ll eat all the pies.
National..make the pie bigger and sell it off.
Nah – that will be ACT – the one reason I can’t vote for them.
Jerome Powell, the Fed chairman will increase the US Fed interest rate another 0.25% tomorrow.
NZ inflation hits 10% by November.
Jacinda quit just in time, no doubt she will be thinking of impoverished kids when she gets a million for her book deal, selling her damehood to rake in even more and thinking about those impoverished kids in her previous life.
Brilliant mind that of Jacinda. Knowing when to go just like JK knew when to go when closing the wage gap with Australia and leaving us with a brighter future….oh wait?
And don’t go forget Don-Keys “Get some Guts” then he cut & ran & his Rockstar Economy, a ludicrous Nat Party illusion! Pathetic!
“Hello from Massachusetts,how are the hungry children getting on?”
Hello from Australia…Aroha “I’m no longer hungry”
https://www.stuff.co.nz/national/10468960/Aroha-of-McGehan-Close-flees-NZ
It was working just fine when she left…
New Zealand Supermarkets
https://youtube.com/shorts/QSk7qL2qfuc?feature=share3
Yes we have food inflation especially fruit and vegetables. There used to be a time when we ate what was available in season. Now we demand salads in winter. Tomatoes, lettuces cucumbers etc.etc. If growers could concentrate on seasonal vegetables we as a country would be so much better off. Having to grow or import summer vegetables in winter is just crazy. Bring back home economics as a full time subject not just a few weeks a year. Teach children how to cook, how to budget. This would go a long way to help people manage in these tough times.