Even in this cost-of-living crisis, some things just can’t go unnoticed. A New World Supermarket has seemingly forgotten that the word “reduced” means lower.
Although this comes after a significant drop in food prices, the recent inflation run has left grocery shoppers forking out significantly more for their groceries.
Food prices have dropped significantly in recent months, the first annual food price drop in six years was recorded.
According to Informetrics, Fruit and vegetable prices were 7.3 per cent higher, meat, poultry, and fish were 16 per cent higher, grocery food was 22 per cent higher, and non-alcoholic drinks were 19 per cent higher.
However, input prices are higher, the minimum wage has been lifted, which may affect restaurant prices, and the cost of electricity, shipping and many on-farm costs have also risen.
Households are spending more of their money on food. In 2024, they were spending nearly $300 a week on food on average compared to $225 in 2019.
