NZ food prices fall in July, cementing expectations interest rates are on hold till 2015

Wed, 27 Aug 2014

By Tina Morrison Aug. 27 (BusinessDesk) - New Zealand food prices declined in July, adding weight to speculation that softer inflation will prompt the Reserve Bank to keep the benchmark interest rate on hold until next year. The food price index fell 0.7 percent from June, its first decline in four months, as discounting led to lower prices for beef and processed meat, Statistics New Zealand said. The index was 0.1 percent lower than July last year, the first annual decline in 14 months, led by lower prices for fruit and vegetables, the a...

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