Asian Economic News

New Zealand Food Prices Fall 0.5% In August

Food prices in New Zealand were down 0.5 percent on month in August, Statistics New Zealand said on Friday.

That was well shy of forecasts for an increase of 0.2 percent following the 0.5 percent increase in July.

Grocery prices led the decline, fueled by a 2.2 percent drop in breads and cereals.

On a yearly basis, food prices added 0.3 percent - slowing from the 0.9 percent growth in the previous month.

by RTTNews Staff Writer

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