NZ food prices rise at fastest annual pace in six years as vege prices soar

Tue, 13 Jun 2017

By Paul McBeth June 14 (BusinessDesk) - New Zealand food prices rose at their fastest annual pace in more than six years as increasingly expensive vegetables were made more scarce by the wet Autumn weather. The food price index climbed an annual 3.1 percent in the year ended May 31, the biggest annual increase since September 2011 when prices were artificially boosted by the hike in GST to 15 percent, Statistics New Zealand said. Food prices rose a seasonally adjusted 1.6 percent in May, the biggest monthly increase in at least three yea...

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