Chris Quinn: Foodstuffs New Zealand managing director on promising inflation numbers
Foodstuffs has reported that its comparable grocery basket prices are only up 1.6% in the year to September, compared to a higher national food inflation of 2.4%.
The low grocery prices have come despite a difficult period of increased fuel prices, a weakened New Zealand dollar, and the annual inflation rate sitting at 4.1%
Foodstuffs New Zealand managing director Chris Quinn told Mike Hosking that Foodstuffs stores were pushing to get value on the shelf.
He says while it is not a historically low number, compared to the last six years a rate below two was very good.
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