Think your shopping bill is high? It'll get worse
5:00AM Wednesday April 16, 2008
By Brooke Donovan
Shoppers can expect no relief from skyrocketing food prices as long as the global price of food production continues to rise, experts said yesterday.
Food prices provided the most significant contribution to the 0.7 per cent on-quarter rise in the Consumer Price Index, which is key to the Reserve Bank of New Zealand's deliberations on interest rates.
Statistics New Zealand said food prices rose 1.8 per cent in the three months to the end of March, with the main contribution coming from grocery food, which rose 3.6 per cent.
Within the grocery food category the main increases came from cheese, bread and butter - and the numbers confirmed what many New Zealanders have known for some time.
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