Countdown’s June grocery prices drop by 1.2%

Countdown’s June grocery prices drop by 1.2%

Grocery prices continue downward trend, 2.5 per cent cheaper than two years ago

11 July 2016: Newly released data shows Countdown prices were 1.2 per cent lower in June versus the same time last year.

Countdown tracks the prices of a basket of 100 of the most commonly purchased items including meat, produce and dairy items where there can be substantial seasonal and commodity price variations, as well as non-perishable grocery items.

Countdown’s Head of Commercial Services Stuart Barnett says multiple factors drove lower prices in June across the basket of 100, including a 2.9 per cent drop in meat prices and a 3.8 per cent drop across other food and beverage items.

“Meat can be a significant part of our customers’ regular shop and in June we delivered lower prices across meat and delicatessen items including sausages, schnitzel and hot roast chicken, contributing to the overall drop in prices.”

“Our Price Lockdown programme also contributed towards a drop in basket prices across the health, beauty and cleaning segment, with significantly lower prices for household essentials such as laundry powder and toothpaste.”

While overall basket prices are down, produce items have again increased due to seasonal factors. A 15.7 per cent increase in produce is due largely to higher market prices on seasonal goods.

Statistics New Zealand’s May Food Price Index showed that, after seasonal adjustment, there was a 0.3 per cent decrease in food prices nationwide compared to this time last year.

Mr Barnett says Countdown is focused on making groceries more affordable for Kiwis and the company has again seen a decrease in prices overall during the month of June.

“While there will always be external factors that are out of our control affecting grocery categories, at Countdown we’re committed to driving prices down. Our Price Lockdown programme continues to offer Kiwi shoppers low prices every day,” Mr Barnett says.

ENDS

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