Food prices in New Zealand decreased to 0.5 percent year-on-year in March of 2021 from 1.2 percent in the previous month. It was the smallest annual food inflation since June of 2019, as prices slowed for fruit and vegetables (2.3 percent vs 5.1 percent in February) and restaurant meals and ready-to-eat food (3.6 percent vs 3.7 percent). Also, prices continued to fall for meat, poultry and fish (-3.0 percent vs -2.4 percent) and grocery food (-1.1 percent vs -0.6 percent). On a monthly basis, overall food prices were flat in March, following a 0.9 percent drop in the prior month. source: Statistics New Zealand
Food Inflation in New Zealand averaged 5.46 percent from 1961 until 2021, reaching an all time high of 25.20 percent in March of 1980 and a record low of -2 percent in June of 2010. This page provides - New Zealand Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Food Inflation - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Food Inflation in New Zealand is expected to be 0.80 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 2.00 in 12 months time. In the long-term, the New Zealand Food Inflation is projected to trend around 2.50 percent in 2022, according to our econometric models.