Figures show Aussies are better off

New Zealanders face skyrocketing food prices and paltry wage increases while battling a lower life expectancy and higher unemployment than Australians.

That is according to figures from the past year summarised in Statistics New Zealand's annual report, New Zealand in Profile: 2012. The report, released yesterday, compares key statistics between New Zealand and Australia.

It shows New Zealand fell behind in life expectancy and GDP per capita. New Zealand also has a higher rate of unemployment and a higher rate of consumer inflation.

In the past five years, food prices have jumped dramatically, with fruit and vegetables up by about 30 per cent and bread up by almost 41 per cent. The big jumper is cheese, up by 51.3 per cent in the past five years.

New Zealanders now receive on average about $5 an hour more than they did in 2006. The average weekly wage is $898.

Victoria University economics lecturer Brandon Chen said the increase in food prices could be attributed to a growing population and rising production and transport costs.

Any significant increase in wages would be unlikely unless economic conditions improved.

"The only thing that we can be certain of is that more people have to tighten their belts in the face of increasing food prices."

- © Fairfax NZ News