NZ food prices fall in May as tomatoes, potatoes get cheaper

Mon, 13 Jun 2016

By Paul McBeth June 14 (BusinessDesk) - New Zealand food prices fell in May, snapping two months of gains, as cheaper tomatoes and potatoes brought down the price of fresh produce. Food prices fell 0.5 percent last month and were 0.3 percent lower than May 2015, Statistics New Zealand said. The food price index has fallen on a yearly basis in seven of the last eight months, further suppressing broader inflation which has remained below the Reserve Bank's 1-to-3 percent target band since December 2014. The fall in May food prices was...

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