The good news is food prices in New Zealand fell in November. But the bad news is they were still a whopping 6 per cent higher than a year earlier.
“The largest contribution to the annual change was grocery food, mainly driven by higher prices for fresh eggs, lollies, and peanuts,” Stats NZ consumers prices manager James Mitchell said today.
Food prices have now fallen for three consecutive months.
The fruit and vegetables group was the largest contributor to the monthly fall, driven by seasonal price drops for tomatoes, capsicums, and strawberries.
”We are seeing more food items fall in price than a year ago,” Mitchell said.