Slight food price rise in May, led by fruit, vegetables
The food price index rises 0.3%, the second monthly increase this year, even though meat, poultry and fish fell 1.5%.
BUSINESSDESK: New Zealand's food prices rose last month as the cost of produce increased in the lead-up to the winter months.
The food price index rose 0.3%, its second monthly increase this year, Statistics New Zealand says.
Produce reported the biggest increase, up 3.2% as the price of tomatoes jumped 58% and broccoli prices rose 17%.
The price of non-alcoholic beverages was up 2.2% and restaurant meals and ready-to-eat food increased 0.7%.
Food prices fell 0.2% in the year ended May 31, the first annual decline since July 2010.
The data comes after the Reserve Bank held the official cash rate at 2.5%, saying inflation will probably be at the bottom of its target 1% to 3% band in the June quarter before rising to the mid-point from next year.
New Zealand's inflation has been constrained by a resiliently high New Zealand that's kept a lid on import prices, including foreign fruit and vegetables.
Today's figures showed the price of meat, poultry and fish fell 1.5% in May, while cheaper milk helped push down the price of grocery food 0.5%.
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Slight food price rise in May, led by fruit, vegetables
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