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Financial News: New Zealand Food Prices Fall 1.1% In October

New Zealand Food Prices Fall 1.1% In October

11/19/2017 - 17:46:00 (RTTNews)

(RTTNews) - Food prices in New Zealand tumbled an unadjusted 1.1 percent on month in October, Statistics New Zealand said on Monday.

That follows the 0.2 percent fall in September.

Fruit and vegetable prices plummeted 6.8 percent on month, while meat, poultry, and fish prices rose 0.8 percent.

Grocery food prices fell 0.8 percent, while non-alcoholic beverage prices showed no overall change. Restaurant meals and ready-to-eat food prices rose 0.1 percent.

On a yearly basis, food prices jumped 2.7 percent, slowing from the 3.0 percent gain in the previous month.

Fruit and vegetable prices increased 4.4 percent on year, while meat, poultry, and fish prices increased 1.4 percent.

Grocery food prices increased 2.8 percent, while non-alcoholic beverage prices increased 2.2 percent. Restaurant meals and ready-to-eat food prices increased 2.3 percent.

Seasonally adjusted, food prices were down 0.1 percent on month.

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