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NZ sees largest annual fall in food prices since 2012

15 January 2016

Grocery food prices decreased 3.0 percent over the year, led by lower prices for some dairy products, and for breads and cereals. Fresh milk prices were down 14 percent compared with the same period last year.

Conversely, fruit and vegetable prices increased 2.4 percent, with higher prices for avocados and bananas.

Meat, poultry, and fish prices decreased 3.8 percent over the year, led by lower prices for chicken. Chicken prices are now at their lowest level since January 2008.

“Chicken prices have fallen during the year, with the price for a kilo of chicken breast averaging $14.62 in December, compared with $16.60 a year ago,” consumer prices manager, Matt Haigh, said.