Food prices rocket

Anybody with a garden would be wise to start growing their own food again. Soaring oil prices and a collapsing global economy will make importing food a very expensive enterprise. Added to that why would you want an apple grown in Chili or porc grown in Canada if you can get it from around your place of living.

Food prices rocketed by 2.8 percent last month – the biggest increase in 20 years.

Figures from Statistics New Zealand show that food prices have soared by 8.4 percent in the 12 months to June.

The bad news for those picking up the weekly supermarket bill is in sharp contrast to the official figures for overall inflation – which show that the annual rate has dropped to 1.9 percent.

SNZ said that the big lift in grocery bills in June was the biggest monthly increase since a 3.8 percent rise in July 1989 – but that rise was fuelled by a lift in the rate of goods and services tax.

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