New Zealand's food prices increase 1.2 per cent annually

Wellington, Oct 11 Food prices in New Zealand increased 1.2 per cent in the 12 months to September 2024, following a 0.4 per cent increase to August 2024, New Zealand's statistics department Stats NZ revealed on Friday.

The annual increase was driven by higher prices for restaurant meals ready-to-eat food, and grocery food, which were up 3.5 per cent and 2.7 per cent, respectively, Xinhua news agency reported quoting Stats NZ.

The price increase in restaurant meals and ready-to-eat food was due to higher prices for lunch or brunch, takeaway coffees, and hamburgers, it said.

Higher prices for olive oil, butter, and chocolate biscuits drove the price increase in grocery food, Stats NZ consumer prices manager Nicola Growden said.

New Zealand's annual consumer price inflation was within the one per cent to three per cent inflation target range and converged on the two per cent midpoint.

Source: IANS