Six out of 10 Kiwis worried about food and grocery costs.
Rising prices have helped push grocery bills to the top of the list of consumers’ concerns about everyday expenses.
In our annual survey, 63 percent picked food and grocery costs as their biggest worry. Among renters, concern was even higher at 74 percent.
Many households are likely to be feeling the pinch with food prices rising 2.9 percent in the past year. The biggest hikes have been for fruit and veges, up 8.9 percent.
Grocery prices will be under scrutiny this year as the Commerce Commission’s investigation of the supermarket sector gets underway. It’s looking at whether consumers are getting a fair deal at the checkout and is due to be completed in November.
Our survey shows grocery prices have now pipped fuel costs, which were the number one worry in 2019.
This year, 55 percent were worried about the cost of fuelling up. Household power bills took out the third spot on 53 percent.
For homeowners, council rates (71 percent) and the cost of house insurance (59 percent) also featured as key concerns.
Across all consumers, 61 percent thought their household bills and expenses had increased in the past 12 months.
To help cope with rising costs, 56 percent said they’d cut back spending on non-essentials in the past year and 32 percent had delayed a major purchase.
A third had dipped into savings to cover the gap until payday while 13 percent had relied on their credit card to tide them over.