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Speaker 1: The battle of the dueling numbers in the food space.

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Speaker 1: So Stats New Zealand, you would be well aware, on

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Speaker 1: Friday came out with a food price index up five

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Speaker 1: percent and you go, oh my god, five percent, but

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Speaker 1: food Stuff go wait a minute, it's actually three point four.

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Speaker 1: So what's going on here? Chris Quinn, food Stuff's Northhireland

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Speaker 1: man is with us morning, Good morning, Mike. So what's

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Speaker 1: the magic here? Does Stats say five? You say three

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Speaker 1: point four? You're not including restaurants and takeaways? Is that right?

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Speaker 2: It's not including restaurants and takeaways, and obviously that is

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Speaker 2: only food Stuff's stores. So we've been working hard to

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Speaker 2: try and limit the impact of these increases. It's mainly

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Speaker 2: across dairy, beef and land, which are our exported products

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Speaker 2: that are doing very very well on global markets. And

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Speaker 2: obviously what we're trying to do is is somewhat ameliorate

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Speaker 2: the effect on our New Zealand consumers.

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Speaker 1: You saw that, all would have seen the headlines again,

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Speaker 1: oh my god, it's five percent. Does that frustrate you?

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Speaker 1: Given if you break it down in a moderately sensible

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Speaker 1: sort of way, it's not the end of the world.

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Speaker 2: Look, there's no doubt this has an impact on New

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Speaker 2: Zealand household So, you know, a five percent increase year

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Speaker 2: on year. We have had a much better period down

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Speaker 2: in the twos and threes and those sort of numbers,

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Speaker 2: But for households this will be felt alongside every other

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Speaker 2: household cost. The key is it's the middle of winter.

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Speaker 2: We are you know, we have export pressure on some products.

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Speaker 2: So what we're trying to help our customers with is

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Speaker 2: understand where you can find value now in this time

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Speaker 2: of winter, where to go shopping and what products to

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Speaker 2: look for so that household budgets can be somewhat supported.

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Speaker 1: How much up against it are you in the sense

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Speaker 1: everyone going ah, yeah, of course they'd say that this

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Speaker 1: is a supermarket. We hate supermarkets. That's your problem, isn't

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Speaker 1: it its image?

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Speaker 2: Look, it's you know, there are a number of people

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Speaker 2: who have that story. That's probably why we share this information.

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Speaker 2: We're just trying to say, can we just look at

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Speaker 2: the facts and most importantly, instead of all of the rhetoric,

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Speaker 2: let's focus on where New Zealanders right now can get

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Speaker 2: the best value, which is in frozen chickens, leg gross

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Speaker 2: hookey phillts, you know, and some of the winter vegetables

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Speaker 2: that you would expect this time of year.

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Speaker 1: If you do your number at three point four, so

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Speaker 1: it's still above inflation. But if you strip out the

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Speaker 1: stuff that we know about, the butter and the dairy

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Speaker 1: and the you know, the beef and stuff, what does

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Speaker 1: it come down to? Do you know it must be

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Speaker 1: below inflation, mustn't it?

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Speaker 2: Look, we don't have a number calculated with all that

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Speaker 2: stripped out, but there's no doubt beef, lamb and butter

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Speaker 2: we're all up over thirty percent. Yeah, and you know

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Speaker 2: that's where the real impact is.

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Speaker 1: The difficulty I suppose that. I mean the advantages You

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Speaker 1: can shop around this, can't you? As I think we

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Speaker 1: probably talked about before. You don't have to buy butter

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Speaker 1: or beef or lamb. You can buy other stuff that

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Speaker 1: makes life cheaper.

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Speaker 2: No, that's right. And you know, if you look at

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Speaker 2: right now, it's potatoes and capsicans, it's cougettes and onions, mandarin.

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Speaker 2: Those sort of things are the things where value sits

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Speaker 2: at this time a year. And probably the complexity right

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Speaker 2: now is you're not only dealing with seasons, You're dealing

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Speaker 2: with what's going on globally with the pressure on some

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Speaker 2: of those fantastic New Zealand export products, but just reflects

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Speaker 2: a reality back into New Zealand consumers.

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Speaker 1: Do you reckon people know that deep down, or they

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Speaker 1: don't know it, they know it but don't want to

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Speaker 1: accept it, or they just don't know it at all.

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Speaker 1: That's genuinely a surprise to them.

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Speaker 2: Still, look, I think people would prefer not to have

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Speaker 2: to work to try and make the budget come together.

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Speaker 2: But you know, when the pressure is coming from all

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Speaker 2: of the utilities, bills and all of the other things

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Speaker 2: that people are facing, and food as well. This does

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Speaker 2: you know our job is to try and help our

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Speaker 2: customers as much as possible, to make sure they understand

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Speaker 2: where the value is and try and guide them through

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Speaker 2: this as best we can.

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Speaker 1: Chris appreciate it. Chris Quinn out of food stuffs this morning.

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Speaker 1: By the way, I can tell you that non alcoholic

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Speaker 1: beverages that's coke four point four percent. Ups are stopped

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Speaker 1: buying it, cigarettes four point eight percent, so give up.

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Speaker 1: Petrols down, diesels down, diesels down seven point two domestic

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Speaker 1: herefeas are down, so not everything's gone up, which is good.

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