Food Price Index shows lower grocery prices for consumers

Food Price Index shows lower grocery prices for Kiwi consumers

15 January 2016: Today, Statistics New Zealand announced that the Food Price Index is at its lowest levels since July 2012, dropping by 1.3 percent in the year to December 2015, led by grocery food prices, which decreased 3 percent over the year.

Since October 2013, Countdown has dropped the everyday price of 3,200 products and Countdown’s Head of Commercial Services Stuart Barnett says that a continued focus on driving down the price for groceries for Kiwi consumers is paying off.

“Over the past two years we’ve continued to deliver real savings for our customers at the checkout by dropping the prices on a large number of products. Today’s Food Price Index results show that the work we are doing is having an impact.

“Through the Price Lockdown and Price Drop programme more than 3,200 products have had their everyday prices dropped to date, since October 2013. This activity is also making significant contribution towards better food affordability in New Zealand.”

In December, Consumer NZ survey results showed Countdown’s price position has improved on the 2014 survey result, and that Countdown is now neck-and-neck with Pak’N’Save in a number of key regions throughout New Zealand.

The Consumer NZ survey also showed that New World is considerably more expensive than Countdown throughout the country.

“We track a basket of 100 of the most commonly purchased items in our supermarkets and this has consistently been coming down,” Mr Barnett says.

This basket includes meat, produce and dairy items where there can be substantial seasonal and commodity price variations.

“Since launching the Price Lockdown programme in October 2013, Countdown has delivered increasingly low prices, while maintaining our commitment to quality, convenience, and range across our network of 183 stores,” Mr Barnett says.

“Customers are increasingly recognising Countdown’s lower prices and when combined with our extensive range and great store environment this makes Countdown a great place to shop.”

ENDS

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