New Zealand food prices increased at the fastest rate in more than three decades in December, data from Statistics New Zealand showed on Thursday, signaling strong inflationary pressures that would prompt the Reserve Bank of New Zealand to continue its interest rate hikes.
Food prices grew 11.3 percent in December, following a 10.7 percent rise in November, data from Stats NZ showed Thursday. The latest growth was the biggest since April 1990, when food prices rose 11.4 percent.
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