NZ food prices post biggest gain since GST hike in October 2010, led by fruit, vegetables

Wed, 10 Jul 2013

July 11 (BusinessDesk) – New Zealand food prices last month recorded their biggest gain since goods and services tax was lifted to 15 percent in October 2010, led by a seasonal jump in prices of vegetables such as tomatoes and lettuce. Prices rose 2.1 percent in June from May, the biggest monthly increase since a 2.2 percent gain in October 2010, according to Statistics New Zealand. Vegetable prices jumped 18.7 percent and fruit prices rose 6.6 percent, resulting in a 13.4 percent gain in the fruit and vegetable sub-index. All five of the sub...

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