Statistics New Zealand has announced that the Food Price Index is at its lowest levels since July 2012, dropping by 1.3% in the year to December 2015, led by grocery food prices, which decreased 3% over the year.
Since October 2013, Countdown has dropped the everyday price of 3,200 products and Countdown’s Head of Commercial Services Stuart Barnett says that a continued focus on driving down the price for groceries for Kiwi consumers is paying off. “Over the past two years we’ve continued to deliver real savings for our customers at the checkout by dropping the prices on a large number of products. The Food Price Index results show that the work we are doing is having an impact.”
“We track a basket of 100 of the most commonly purchased items in our supermarkets and this has consistently been coming down,” Barnett says.
This basket includes meat, produce and dairy items where there can be substantial seasonal and commodity price variations.
