Monthly Stats NZ price rise data surprises economists

Food prices rose by 0.6% on the month in April. (Image: File)

Mon, 13 May 2024

Growth in the selected price indexes outstrips economists' predictions but not enough to change inflation forecasts.Released Monday, Stats NZ’s SPI tracks the prices of goods including food, beverages, utilities and transport, which account for 45% of the consumer price index (CPI).Despite fruit and vegetable prices falling 2.6% compared to March, the meat, poultry and fish and grocery food categories rose 1.2% and 1.1%, pushing total food group prices up 0.6% month-on-month. The rise in food prices, which account for 18.8%...

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