Food prices decline reinforces earlier rate cut calls
Annual food prices decline for the first time in nearly six years, Stats NZ data shows.
Staple items such as fruit and vegetables led the annual decline.
Annual food prices declined for the first time in nearly six years, led by a drop in fruit and vegetables, reinforcing a majority view of rate cuts later this year.
Statistics NZ data out today showed food prices dropped by 0.3% in the year ended June, marking the first decline since August
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