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Food Prices See Smallest Annual Increase Since May 2021
Food prices increased 2.1 percent in the 12 months to February 2024, the smallest increase since May 2021, according to figures released by Stats NZ said today.
The 2.1 percent increase is noticeably lower when compared with the 12.0 percent increase in the 12 months to February 2023.
The lower annual increase was due to cheaper fruit and vegetable prices, down 9.3 percent in the 12 months to February 2024.
“Cheaper prices for fresh produce such as tomatoes, broccoli, and lettuce drove the decrease in fruit and vegetable prices,” consumer prices manager Will Bell said.
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