The cost of alcohol and tobacco in New Zealand has risen - tobacco by 2.7%, and alcohol 0.3% - according to figures released by Stats NZ today.
There was also a dip in petrol prices, although diesel saw a rise. (Source: 1News)
Consumers prices' Nicola Growden said the alcoholic beverages and tobacco group rose 1.3% in the October month, which was mainly due cigarette and tobacco price increases.
"We usually see a rise for cigarettes and tobacco during the start of the year when excise taxes are adjusted," she said.
“The 2.7% increase in prices for cigarettes and tobacco is the largest we have seen apart from the increases we usually see in January."
She said since the series began in June 2011, the next highest increase outside of January was a 1.2% monthly rise in July 2014.
Stats NZ has increased how often in releases the prices of some goods, to help the Government and Reserve Bank track inflation better.
Food prices have also seen an increase, with a 6.3% jump compared to this time last year. However, they were 0.9% cheaper in October 2023 than they were a month earlier.
Petrol prices fell 1.1% in October, but diesel prices were up 1.6%.
In October, the annual increase was due to price rises across five food categories. Stats NZ said price movements for all five groups for the 12 months to October 2023, in order of their contribution to the overall movement, were:
- Grocery food prices - 7.9% increase
- Restaurant meals and ready-to-eat food prices - 7.7% increase
- Non-alcoholic beverages prices - 5.7% increase
- Meat, poultry, and fish prices - 3.3% increase
- Fruit and vegetables prices - 3.3% increase.
Consumer Prices manager James Mitchell said: "The largest contributing food group was grocery food, mainly driven by higher prices for fresh eggs, potato crisps, and yoghurt."
He said the increase for restaurant meals and ready-to-eat food was driven by eat-in-brunch/lunch, takeaways, and restaurant evening meals.
"Monthly food prices fell 0.9% in October 2023 compared with September 2023. After adjusting for seasonal effects, they fell 0.1%."
“Prices fell across the board in October, with only dining out and takeaway food being more expensive than in September," Mitchell said.
The fruit and vegetables subgroup was the largest contributor to the monthly fall, followed by grocery food. The grocery items that contributed the most to the drop were cheese, white bread, and muesli bars.
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