Food prices in New Zealand increased 3.7 percent year-on-year in October of 2021, easing from a 13-month high of 3.9 percent rise hit in September of 2021. The rate of inflation eased mainly for fruit and vegetables (9.0 percent vs 9.3 percent in September), while restaurant meals and ready-to-eat food (5 percent vs 4.6 percent), and grocery food (3.1 percent vs 2.9 percent) observed higher prices increase. On a monthly basis, food prices went down 0.9 percent, offsetting an 0.5 percent increase in the previous period. source: Statistics New Zealand
Food Inflation in New Zealand averaged 5.44 percent from 1961 until 2021, 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 December of 2021.
Food Inflation in New Zealand is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Food Inflation is projected to trend around 1.50 percent in 2022 and 2.00 percent in 2023, according to our econometric models.