Annual food prices have skyrocketed and are now 9.6 per cent higher in July 2023 compared to 12 months ago, according to figures released today.

Stats NZ said grocery food prices recorded the highest jump rising 11.9 per cent while meat, poultry, and fish prices increased 9.3 per cent.

“While overall food inflation has slowed, it is comparable to the increases we saw in 2008 and 2011,” consumer prices manager James Mitchell said.

Kiwi shoppers have been punished at the checkout for much of the year, as many fresh produce and other grocery prices have soared, even though the pace of inflation has mostly slowed since late summer.

In June, overall food prices were 1.6 per cent higher than in May. Even after adjustment for seasonal fluctuations, that increase was 0.9 per cent.

In the month of June alone, fruit and vegetable prices were up 2 per cent after seasonal adjustment.

From December 2021 to the end of June this year, prices rose for 17 of the 19 months counted.

Food prices are a major component of the overall inflation the Consumers Price Index measured.

Stats NZ previously said food prices were the largest contributor to the June 2023 annual inflation rate of 6 per cent.

The Food Price Index for July is expected to be published shortly before 11am.