Yoghurt up 14 per cent as food prices jump

Source: 1News

Food prices around the country increased last month, with yoghurt partly to blame.

Little girl buying yogurt in supermarket. Child in supermarket select products from store showcase. Concept for children selecting milk products in shop.

The dairy product skyrocketed to a five-year high in January, up 14 per cent from $4.78 in December.

An average six pack of yoghurt cost roughly $5.45 last month, just a fraction lower than the previous peak in April 2015.

It’s a seasonal trend according to StatsNZ, as food prices have risen every January since 2013 off the back of the Christmas holiday period.

According to consumer prices manager Katrina Dewbery, they’ve seen a lot of yoghurts, in particular, coming off special and driving the price up.

“Food prices tend to have a fairly strong rise in January, this January’s 1.3 percent rise follows last year’s 2.1 percent rise,” she says.

Porterhouse and sirloin steak, large soft drinks and potato chips also rose significantly last month, contributing to the average.

It’s a combination of factors causing steak to rise with some items coming off special as well as an increased standard price.

Grapes were the only food to see a sharp fall, down 20 per cent.

The annual cost for food also increased for 2020, largely fuelled by a suffering hospitality industry thanks to Covid-19 with higher prices for ready-to-eat food and restaurant meals.

Fruits and vegetables were also up on last year. Lettuce in particular saw a huge jump in price, increasing by 91 per cent year-on-year.

There’s no particular reason behind the rise according to Dewbery, with the vegetable largely produced in greenhouses, removing the seasonal risk.