NZ-UK: Basket of goods 25.3859 percent greater in NZ
Basket updated: Sunday, 21 August 2011
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UN: Consumers may have little choice but to pay higher prices for their food. The size of next year's harvest becomes increasingly critical. For stocks to be replenished and prices to return to more normal levels, large production expansions are needed in 2011.
THIS week the United Nations warned that food prices could rise another 20% worldwide due to poor harvests. Will the NZ consumer accept such a hike?
TNZL looks at how food prices have been making the headlines in the last week.
UPDATE: With an extended basket of goods, TNZL begins tracking the cost of living difference between New Zealand and the UK.
Most shocking are the NZ goods that are cheaper for Britons than they are for Kiwis, like Oyster Bay wine and milk. But there seems to be a general 25-30% hike in prices for NZ.
This is particularly keenly felt by working families. Salaries are some 30-50% less in NZ and children add considerably to the weekly cost of living.
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