Food prices increased 4.4 percent in the 12 months to May 2025, following a 3.7 percent increase in the 12 months to April 2025, according to figures released by Stats NZ.

Higher prices for the grocery food group and the meat, poultry and fish group contributed most to the annual increase in food prices.

Infometrics Principal Economist Brad Olsen unpacks the factors behind this data.

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Food prices increased 4.4 percent in the 12 months to May 2025, following a 3.7 percent increase in the 12 months to April 2025, according to figures released by Stats NZ.
Higher prices for the grocery food group and the meat, poultry and fish group contributed most to the annual increase in food prices.
Infometrics Principal Economist Brad Olsen unpacks the factors behind this data.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Brad Olsen: Infometrics Principal Economist on food prices rising by 4.4 percent

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/6ce262c7-b7cd-4330-a450-b2ff0085eaa2/transcript

New reports indicate young people aren't going to op-shops as often, and experts have raised questions as to why this is.

Despite the ongoing cost of living, it seems like younger people wanting discount fashion prefer other options - with less barriers.

Otago University professor Lisa McNeil says the extra effort to look for quality pieces is perceived as a lot of extra labour, and young people are put off.

"It's hard for them, it's expensive when they compare it to some of the cheap new options that are available in the market."

LISTEN ABOVE

New reports indicate young people aren't going to op-shops as often, and experts have raised questions as to why this is.
Despite the ongoing cost of living, it seems like younger people wanting discount fashion prefer other options - with less barriers.
Otago University professor Lisa McNeil says the extra effort to look for quality pieces is perceived as a lot of extra labour, and young people are put off.
"It's hard for them, it's expensive when they compare it to some of the cheap new options that are available in the market."
LISTEN ABOVE

Lisa McNeil: Otago University professor on why young people aren't op-shopping as much

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d37ab8aa-1bc3-4b49-96ff-b4100066a7a7/transcript

A top economist advises thinking about working from home to save fuel.

Iran's maintaining its chokehold on the Strait of Hormuz - retaliating to the continued bombing assault by the US and Israel.

It's led Sri Lanka to move to a four-day working week from tomorrow. 

Westpac economist Kelly Eckhold says unless things change quickly, something will have to be done within the next three weeks. 

"Through the Covid period, we were able to save quite a lot of fuel with the hard lockdowns. We're not going to save anywhere near that amount, but it'll certainly help provide more fuel for the higher-priority users of it." 

LISTEN ABOVE

A top economist advises thinking about working from home to save fuel.
Iran's maintaining its chokehold on the Strait of Hormuz - retaliating to the continued bombing assault by the US and Israel.
It's led Sri Lanka to move to a four-day working week from tomorrow.&nbsp;
Westpac economist Kelly Eckhold says unless things change quickly, something will have to be done within the next three weeks.&nbsp;
"Through the Covid period, we were able to save quite a lot of fuel with the hard lockdowns. We're not going to save anywhere near that amount, but it'll certainly help provide more fuel for the higher-priority users of it."&nbsp;
LISTEN ABOVE

Kelly Eckhold: Westpac economist on whether more people will need to work from home following Middle East crisis

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/86bb4619-93e9-4ea1-afe3-b4100060a7a9/transcript

There's fears there'll be no slowdown any time soon to the rapid rise in food prices.

Stats NZ figures show they rose 4.5 percent in the year to February.

Steak, mince and chocolate all shot up more than 20 percent.

Infometrics head, Brad Olsen, says the spike in oil prices because of the war in Iran will do nothing to help. 

"We know that not only oil prices are key to transport costs, but also just the production. Now if you're a farmer, you've got to use diesel to move stuff around to run the tractor and everything else. So this is going to hit."

LISTEN ABOVE

There's fears there'll be no slowdown any time soon to the rapid rise in food prices.
Stats NZ figures show they rose 4.5 percent in the year to February.
Steak, mince and chocolate all shot up more than 20 percent.
Infometrics head, Brad Olsen, says the spike in oil prices because of the war in Iran will do nothing to help.&nbsp;
"We know that not only oil prices are key to transport costs, but also just the production. Now if you're a farmer, you've got to use diesel to move stuff around to run the tractor and everything else. So this is going to hit."
LISTEN ABOVE

Brad Olsen: Infometrics Principal Economist on data showing food prices rose 4.5 percent in the year to February

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e87e1619-78e8-4c49-a8ab-b41000586915/transcript

Brad Olsen: Infometrics Principal Economist on food prices rising by 4.4 percent

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