Food prices in New Zealand jumped to 4.1 percent in June of 2020 from 2.9 percent in the previous month. Cost advanced faster for fruit and vegetables (10 percent vs 3.6 percent in May); met, poultry and fish (3.9 percent vs 2.9 percent); grocery food (3.0 percent vs 2.8 percent); and non-alcoholic beverages (1.4 percent vs 0.8 percent). On the other hand, restaurant meals and ready-to-eat food prices slowed to 3.5 percent, from 3.6 percent in the precious month. On a monthly basis, food prices rebounded 0.5 percent, after a 0.8 percent decline in May.
Food Inflation in New Zealand averaged 5.50 percent from 1961 until 2020, reaching an all time high of 25.20 percent in March of 1980 and a record low of -2 percent in June of 2010. This page provides - New Zealand Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Food Inflation - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics New Zealand
Food Inflation in New Zealand is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in New Zealand to stand at 2.50 in 12 months time. In the long-term, the New Zealand Food Inflation is projected to trend around 2.10 percent in 2021 and 1.90 percent in 2022, according to our econometric models.