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New Zealand food prices up yoy, but fall in October

WELLINGTON
2023-11-14 13:39

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WELLINGTON, Nov. 14 (Xinhua) -- Food prices in New Zealand were 6.3 percent higher year on year but were cheaper in October than they were in September, according to the statistics department Stats NZ on Tuesday.

Food prices fell 0.9 percent in October due to broad falls in the majority of subgroups, Stats NZ said.

The annual increase in October was due to price rises across the five broad food categories measured, with grocery food prices up 7.9 percent, and restaurant meals and ready-to-eat food prices up 7.7 percent, it said.

Monthly food prices fell 0.9 percent in October compared with September, he said.

"Prices fell across the board in October, with only dining out and takeaway food being more expensive than in September," Stats NZ consumer prices manager James Mitchell said.

The fruit and vegetables subgroup was the largest contributor to the monthly fall, followed by grocery food, he said.

New Zealand's cost of living for the average household increased by 7.2 percent in the 12 months to June 2023, contributed mainly by soaring food prices which increased by 12.7 percent for the average household, according to a Stats NZ release in July.
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