Food inflation close to 8%

Food prices are 7.6% higher than a year ago. I’ve charted below food inflation since 2000.

In 2011 the spike was due to a GST increase that was compensated for with income tax cuts that boosted after tax incomes. So really this is the highest level since 2008/09.

Under the Clark Government food prices went up 37.4% from 1999 to 2008. Under the Key/English Government they only went up 12.7% over nine years.

By comparison under four and a quarter years of Ardern and Robertson, food prices have gone up 13.3%.