Food inflation still at 12.5%

Stuff reports:

Food price increases are still “worryingly high”, with prices increasing 12.5% annually from June 2022 to June 2023.

Compared to the month of May, food prices increased by 1.6% in June 2023. After adjusting for seasonal effects, they were up 0.9%.

Monthly food inflation used to be around 0.2%. Overall inflation may be dropping but food prices are still increasing as a rate well beyond income.