New Zealand Food Prices Surge at Rates Unseen for a DECADEPrices in the country are up 7.6% over the year to March 2022, in New Zealand’s largest inflationary increase since July 2011 - with fruit and vegetables up a whopping 18%.
Officials blame the spike on the disruption of global supply chains, as well as New Zealand’s so-called “supermarket duopoly” raking in super-profits.
According to the commerce minister, “the major grocery retailers were earning excess profits of around $1 million a day, well above what would be expected in a workably competitive market.”
Even kiwis are unaffordable for the Kiwis.
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