New Zealand's food price inflation rose 0.4% in August 2024, driven by restaurant meal and grocery item costs.
New Zealand's annual food price inflation rose 0.4% as of August 2024, driven by increased costs for restaurant meals (up 3.6%) and grocery items (up 2.4%), particularly chocolate and olive oil. In contrast, prices for kūmara and potatoes fell significantly. Overall consumer price inflation eased to 1.1%, the lowest since 2016, suggesting a broader decline in inflation despite rising restaurant costs. Monthly prices fell in August despite seasonal food price increases.
September 12, 2024
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