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Annual Food Prices See Smallest Increase In Over Five Years
Food prices in New Zealand increased 0.2 percent in the 12 months to May 2024, the smallest increase since September 2018, according to figures released by Stats NZ today.
The smaller annual food inflation (compared with the 0.8 percent annual increase in April 2024) was due to cheaper prices for fruit and vegetables (down 11.4 percent), as well as meat, poultry, and fish (down 1.2 percent), in the 12 months to May 2024.
“Prices for meat, poultry, and fish recorded an annual decrease for the first time in over three years,” consumer prices manager James Mitchell said.
“The decrease was driven by cheaper prices for lamb chops, legs of lamb, and chicken pieces.”
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