Brad Olsen: Infometrics Principal Economist on food prices rising 5% in the year to August - Early Edition with Ryan Bridge

Food price inflation is starting to stabilise. 

Latest figures from Stats NZ show the food price inflation is 5% – unchanged on a month ago. 

Butter prices have risen 32% in a year, cheese is up 26%, while milk has increased by 16%. 

Infometrics Principal Economist Brad Olsen told Ryan Bridge that while households are still seeing high costs, the pressure is coming through in a more contained fashion. 

He says that when inflation was running rampant a few years ago, just about everything was impacted, but now it’s not.  

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