Annual Food Prices Drop For First Time In Six Years

Food prices in New Zealand decreased 0.3 percent in the 12 months to June 2024, the first annual decrease in nearly six years (August 2018), according to figures released by Stats NZ today.

“The decrease for food prices was driven by lower prices for tomatoes, cheese, and potatoes,” consumer prices manager James Mitchell said.

In the 12 months to June 2024, prices for fruit and vegetables, and meat, poultry, and fish fell 16.1 percent and 1.4 percent respectively.

“The decrease for fruit and vegetable prices is the largest recorded since the series began, as prices fell from the record-high level in June 2023,” Mitchell said.

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• Annual food prices drop for first time in six years
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