“One of this Labour Government’s legacies will be how it let food prices get so out of control that putting a healthy dinner on the table became too hard for many Kiwi families,” says ACT Leader David Seymour.
“The last time Kiwis saw any relief in food prices was way back in October 2021, even then the decrease after seasonal adjustments was only 0.1 per cent and followed eight months of steady increases prior.
“Today’s Food Price Index shows that food prices are 12.1 per cent higher than this time last year. In the past month they have increased by 0.5 per cent with seasonal adjustment. Meanwhile across the ditch, the most comparable index, living costs for Food and Non Alcoholic beverages has risen 7.9 per cent. Yet another challenge New Zealand faces in attracting and retaining people in the global war for talent.
“People say that paying for their 'top-up shop' at the checkout feels like their weekly shop. There is real anger and resentment that people who life carefully and try to do everything right find themselves having to make hard choices thanks to endlessly rising prices.
“The last three months’ year-on-year increases of 12.1, 12.5, and 12.1 is the worst period of food price inflation since 1987. The median age of a New Zealanders is 28. Nearly half of New Zealanders alive today have never seen food price increases like we have now in their lifetime.
“Kiwis won’t see relief at the supermarket until the Government takes the pressure off producers and cuts wasteful spending. Kiwis will happily see the end of projects like Jobs for Nature ($1.2 billion), Auckland Light Rail ($14.6-29 billion) or Let’s Get Wellington Moving ($6.4 billion) if it means they can afford to put food on the table.
“ACT is the only party with a fully costed alternative budget which would cut wasteful spending by $38 billion. These savings will put the Government’s books back in the black straight away, taking pressure off inflation.
“ACT will also sort out the regulatory pressure that makes it so hard to produce anything in New Zealand, leading to price increases. ACT is proposing a new Minister and Ministry of Regulation to ensure new and existing regulations meet tough new standards and would put red tape on the chopping block.
“The current Government is happy to sit back and watch prices keep rising. Until something is done about wasteful spending and unnecessary regulations on producers then we can expect a monthly increase to the grocery bill to just become part of life.
“ACT would tax less, waste less, and regulate less so the economy can get moving again and putting a healthy dinner on the table every night is no longer a luxury that few can afford.”