There was some ease in food prices in November in New Zealand as food prices fell 0.3 per cent during the month, bringing some relief for people who have been reeling under high inflationary pressure. SNZ claims that this is the smallest annual increase in food prices in the last four years.
The country reported 2 per cent decline in vegetable and fruit prices according to the data provided by Statistics New Zealand (SNZ). Prices Manager Chris Pike informed, "Fruit and vegetable prices usually fall in spring and are now down 17.2% from their winter peak in July."
Tomato prices fell 33 percent while prices of broccoli and minced beef reported a decline of 51.5 percent and 8.7 percent respectively. However, prices of bacon and carrots surged 5.8 percent and 21.7 percent during the reporting period.
Non-alcoholic beverages and grocery food too turned cheaper by 0.8 percent and 0.2 percent respectively. The restaurant meals and ready-to-eat food subgroup rose marginally by 0.6 percent. Statistics New Zealand said that prices are still up by 11.4 percent as compared to the level two years earlier.
