"Grocery food prices fell 0.8 percent in October, led by a 5.7 percent fall in fresh milk prices," consumer prices manager, Matt Haigh, said. "The average price for 2 litres of blue-top milk was $3.13 in October 2015, the cheapest since January 2008 when it was also $3.13."

Prices also fell for sauces and snack food in October, while prices for cakes and biscuits rose.

Meat, poultry, and fish prices fell 1.7 percent, reflecting lower prices for chicken and lamb. These lower prices were partly offset by higher prices for pork and beef.

Fruit and vegetable prices fell 5.2 percent in October, as seasonally lower prices for tomatoes, lettuce, and courgettes were partly offset by higher prices for potatoes. Vegetable prices fell 8.3 percent but were up 0.9 percent after seasonal adjustment.

Food prices decrease 0.5 percent in the year to October

Grocery food prices decreased 3.4 percent over the year, with lower prices for dairy products. "Fresh milk, cheese, butter, and yoghurt all had significant price falls," Mr Haigh said.

Meat, poultry, and fish prices decreased 2.1 percent, with decreases for chicken, lamb, and pork. Beef prices rose, however, and are now at their highest level.

Fruit and vegetable prices increased 3.1 percent over the year, led by higher prices for potatoes, avocados, cucumber, and cabbage. These increases were partly offset by lower tomato prices, which averaged $5.69 per kilo in October compared with $7.23 a year ago.