Food prices remain cheaper than a year ago

12 February 2016: The Food Price Index released by Statistics NZ shows that food prices are cheaper than they were a year ago, which is also reflected by Countdown's own data.

Statistics New Zealand data released today has shown a food price increase of 2.0 per cent for January, due to seasonally higher fruit and vegetable prices. However, overall food still remains cheaper than a year ago.

Countdown tracks a basket of 100 of the most commonly purchased items in their stores and, for the year to January, the cost of this basket is down by 2.7 per cent.

This basket includes meat, produce and dairy items where there can be substantial seasonal and commodity price variations.

Since October 2013, Countdown has dropped the everyday price of 3,200 products and Countdown’s General Manager of Merchandise Chris Fisher says that a continued focus on driving down the price of groceries for Kiwi consumers is paying off.

“Despite the food price index results for January, our own basket of 100 goods that we track continues to drop in cost.

“Through the Price Lockdown and Price Drop programme, we are continuing to make a significant contribution towards better food affordability in New Zealand and deliver real savings for our customers at the checkout.”

In December, Consumer NZ survey results showed Countdown’s price position has improved on the 2014 survey result, and that Countdown is now neck-and-neck with Pak’N’Save in a number of key regions throughout New Zealand.

The Consumer NZ survey also showed that New World is considerably more expensive than Countdown throughout the country.

“Since launching the Price Lockdown programme in October 2013, Countdown has delivered increasingly low prices, while maintaining our commitment to quality, convenience, and range across our network of 183 stores,” Mr Fisher says.

“Customers are increasingly recognising Countdown’s lower prices and when combined with our extensive range and great store environment this makes Countdown a great place to shop.” 

| Keywords: Press releases