Countdown food basket price drops 2.7%: Statistics NZ Food Price Index shows food prices down 0.5 per cent since February 2015
11 March 2016: The downward trend in food prices is continuing, with Countdown data showing a decrease of 2.7 per cent in the year to February 2016.
Countdown tracks a basket of 100 of the most commonly purchased items in its stores and, for the year to February, the cost of this basket is down by 2.7 per cent.
The basket of goods includes meat, produce and dairy items where there can be substantial seasonal and commodity price variations.
Statistics New Zealand released the Food Price Index today, which shows Food prices were 0.5 per cent lower than in February 2015. This was influenced by a 1.9 per cent decrease in grocery food prices, driven by lower prices for fresh milk (down 8.8 per cent) breakfast cereals (down 8.8 per cent), and snack foods (down 5.7 per cent).
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.
“Our business continues to focus on driving the prices of groceries down for Kiwi families and our tracking of the basket of 100 products demonstrates that this focus is delivering results for our customers at the checkout.
“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.