April Sees Surge in Food, International Airfare Prices

Monthly food prices rose 0.6 percent in April 2024 compared with March 2024, according to figures released by Stats NZ today.

International airfares rose 7.2 percent in the same month.

First monthly rise in food prices in three months

The largest contributing group to the monthly rise was grocery food, driven by higher prices for potato crisps, chocolate blocks, and olive oil.

The fruit and vegetables group slightly offset the increase, with cheaper prices for kiwifruit, broccoli, and mandarins.

"Stocking up with fruit and vegetables became cheaper for the third consecutive month," consumer prices manager James Mitchell said.

"At the same time, filling up the fridge and pantry with other food items, and heading out to a cafe or restaurant became more expensive."

Mixed bag for international holidays

Prices for international air transport rose 7.2 percent in April 2024 compared with March 2024, while prices for overseas accommodation were down 4.9 percent.

"Kiwis travelling overseas in April would have experienced higher airfares than those who travelled in March," said Mitchell.

"On the flip side, the prices for their accommodation were cheaper."

International air transport prices were 47.7 percent more expensive than five years ago, in April 2019, while prices for overseas accommodation were 30.8 percent more expensive over the same time.

Food prices increase 0.8 percent annually

Food prices increased 0.8 percent in the 12 months to April 2024.

The latest increase followed a 0.7 percent increase in the 12 months to March 2024. At the same time last year food prices increased 12.5 percent.

The smaller increase compared with last year was due to cheaper fruit and vegetables, down 13 percent in the 12 months to April 2024, while all other broad food groups increased in price.

"The fall in fruit and vegetable prices, compared with April 2023, reflects prices coming down from highs seen throughout 2023," Mitchell said.

"Tomato prices were more typical for April - about $3.50 cheaper per kilo than what they were this time last year, while kūmara prices have more than halved since the start of 2024," Mitchell said.