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Financial News: New Zealand Food Prices Recover In May

New Zealand Food Prices Recover In May

06/13/2019 - 23:19:00 (RTTNews)

(RTTNews) - New Zealand food prices recovered in May after falling a month ago, data from Statistics New Zealand showed Friday.

Food prices rose 0.7 percent month-on-month in May, reversing a 0.1 percent fall in April. This was the fastest growth in four months.

After seasonal adjustment, food prices gained 0.4 percent.

Data showed that fruit and vegetable prices climbed 0.8 percent and meat, poultry, and fish prices rose 1.2 percent.

At the same time, the increase in grocery food prices was 0.2 percent and non-alcoholic beverages, 1.4 percent. Restaurant meals and ready-to-eat food prices grew 0.3 percent.

On a yearly basis, food prices advanced 1.7 percent in May, faster than the 1 percent rise seen a month ago.

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