Stats NZ collecting price data from grocery comparison app
The temporary arrangement with Grosave came about in response to the Treasury's request for weekly food price data.
Stats NZ is gathering weekly price data from the grocery comparison app Grosave to track the impact of the fuel crisis on food costs, according to RNZ. The app, which has around 70,000 users, helps shoppers find the cheapest local supermarket based on their online shopping lists. It is one of three apps available in the market, along with Grocer and CheckMyTrolley.
Stats NZ provided the Treasury with weekly data from Grosave to monitor whether increased fuel costs due to the Middle East conflict were being passed on to consumers. Infometrics principal economist Brad Olsen explained that app data provided an earlier indication of how food prices were moving during a crisis. However, collecting more frequent data can make it harder to distinguish between genuine price changes and temporary fluctuations.
Stats NZ's regular inflation measures, such as the consumer price index, which reached a two-year high of 4.1 percent in June, were driven by higher fuel, electricity, and housing costs, offset by cheaper food prices. The agency began collecting data from Grosave in response to the Treasury's request for weekly food price information, and it was a temporary arrangement alongside data obtained from supermarkets.
While the new weekly indicator will help identify early price signals, it does not replace the Food Price Index.
Written by urgent.news from RNZ Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
