Annual food inflation in New Zealand has eased to 0.2% in May from 0.8% in April, data by Statistics New Zealand showed.It has pointed to the smallest increase in food prices since September 2018.Pric
New Zealand food inflation lowest since September 2018
Annual food inflation in New Zealand has eased to 0.2% in May from 0.8% in April, data by Statistics New Zealand showed.
It has pointed to the smallest increase in food prices since September 2018.
Prices of fruit and vegetables plummeted 11.4% year-on-year in May, following a 1.1% drop in April.
In addition, prices of meat, poultry and fish decreased for the first time in more than three years in May, by 1.2% YoY.
On the other hand, cost of restaurant meals and ready-to-eat food (4.8% YoY versus 0.1% YoY in April), grocery food (1.3% YoY versus -0.6% YoY in April) and non-alcoholic beverages (2.7% YoY versus 1.4% YoY in April) increased.
The NZD/USD currency pair settled 0.44% lower at 0.6140 on Friday. For the week, the major Forex pair went up 0.64%.
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