Chris Quin: Foodstuffs North Island Managing Director on the latest Food Price Index

It seems the war in the Middle East hasn’t impacted our food prices as much as feared.  The latest Food Price Index shows an increase of 1% for May – 3.2% higher than a year ago.  Milk was the biggest driver, up 10.3% annually, fruit and vegetables rose 2.5% for the month, and meat, poultry, and fish rose 0.9%.   Foodstuffs North Island CEO Chris Quin told Mike Hosking across their locally-owned stores, retail prices rose about 2.6% during the month.  He says that there’s still a pressure on suppliers – particularly for materials like trays and plastic that are impacted by the fuel crisis.  The issue, Quin says, is how slowly they flow through the market, but even looking at that, they’re sitting around the 2-3% mark at the moment.   LISTEN ABOVE See omnystudio.com/listener for privacy information.