Food prices in New Zealand decreased to 2.7 percent year-on-year in October of 2020 from 3.1 percent in the previous month. It was the lowest annual food price increase in almost a year. Prices of fruit and vegetables rose 10 percent after increasing 11 percent in September, while prices for restaurant meals and ready-to-eat foods increased 3.4 percent after rising 3.6 percent. In addition, prices of groceries rose 0.7 percent after increasing 1 percent and those of meat, poultry & fish rose by 1 percent after climbing 1.9 percent. On a monthly basis, overall food prices were down 0.7 percent in the month. Excluding the effects of fruit and vegetables, food prices were up about 0.1 percent. source: Statistics New Zealand
Food Inflation in New Zealand averaged 5.49 percent from 1961 until 2020, reaching an all time high of 25.20 percent in March of 1980 and a record low of -2 percent in June of 2010. This page provides - New Zealand Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Food Inflation - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
Food Inflation in New Zealand is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in New Zealand to stand at 3.30 in 12 months time. In the long-term, the New Zealand Food Inflation is projected to trend around 3.10 percent in 2021 and 2.50 percent in 2022, according to our econometric models.