Food prices in New Zealand increased 1.7 percent year-on-year in May of 2019, after a 1.0 percent rise in the previous month. Prices advanced further for grocery food (1.7 percent compared to 1.2 percent in April); and meat, poultry & fish (2.7 percent compared to 2.3 percent). Also, cost of fruits & vegetables declined less (-1.4 percent compared to -4.1 percent). Meanwhile, inflation was steady for restaurant meals & ready-to-eat food (at 3.2 percent, the same as in April). On a monthly basis, food prices went up 0.7 percent, rebounding from a 0.1 percent fall in the prior month. Food Inflation in New Zealand averaged 5.55 percent from 1961 until 2019, reaching an all time high of 25.20 percent in March of 1980 and a record low of -2 percent in June of 2010.
Food Inflation in New Zealand is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in New Zealand to stand at 1.80 in 12 months time. In the long-term, the New Zealand Food Inflation is projected to trend around 1.70 percent in 2020, according to our econometric models.