New Zealand's Prices for Rent, Food, Tobacco on Rise
Rental prices for new tenancies increased by 2.5 percent across all New Zealand in January compared with December 2023, Stats NZ said, adding that food prices increased by 0.9 percent, and cigarette and tobacco prices increased by 6.4 percent in this period.
The biggest contributor to the rise of monthly food prices was grocery food, driven by prices for boxed chocolates, 2-liter milk cartons and fresh eggs, it said, adding that other data-x-items that have contributed to the monthly rise include apples and lamb legs.
"Food prices increased both monthly and annually," Stats NZ Consumer Prices Manager James Mitchell said, adding that food prices increased 4 percent in the year ended January 2024. However, the annual change was the lowest reported since November 2021.
Cigarette and tobacco prices increased 6.4 percent in January 2024 compared with December 2023 and increased 10.3 percent in the year ended January 2024, statistics show.
"Increases in cigarette and tobacco prices are usually seen in January when excise duties are applied," Mitchell said, adding that the most recent large rise outside January was the 2.7 percent monthly rise in October 2023.
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