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Market Update: New Zealand Food Inflation Hits Four-Month High
Food prices in New Zealand increased 1.8 percent year-on-year in May of 2021 from 0.7 percent in the previous month. It was the highest reading since May of 2019, as prices rebounded for meat, poultry & fish (0.2 percent vs -2.2 percent in April) and non-alcoholic beverages (0.3 percent vs -3.4 percent) while they dropped at a softer pace for grocery food (-0.1 percent vs -1.3 percent). On a monthly basis, overall food prices were up 0.4 percent following a 1.1 percent gain in April. source: Statistics New Zealand [/s2If]
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