NZ food price fall in October as milk slumps to 7-year low; beef rises to record high

Wed, 11 Nov 2015

By Sophie Boot Nov. 12 (BusinessDesk) - New Zealand food prices fell in October, as milk slumped to its lowest level in more than seven years. The food price index slipped a seasonally adjusted 0.5 percent in October, after rising 0.1 percent in September, Statistics New Zealand said. Food prices fell 1.2 percent on an annual basis. Grocery food prices, the biggest component of the index, declined 0.8 percent, after rising 0.2 percent in September. Fresh milk prices dropped 5.7 percent to $3.13 for two litres of blue-top milk, the lowe...

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