News Karnataka
Tuesday, January 31 2023

Growth of New Zealand’s annual food prices hits 11-yr high

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Wellington: New Zealand’s annual food prices rose 6.8 per cent in February 2022 compared with February 2021, hitting an 11-year high, the statistics department Stats NZ said on Friday.

This was the largest annual increase since July 2011 when prices increased 7.9 per cent, Xinhua news agency quoted Stats NZ as saying.

Fruit and vegetable prices were the largest contributor to the annual movement, which increased by 17 per cent, mainly influenced by tomatoes, broccoli, and iceberg lettuce, food prices lead analyst Angus Crowe said in a statement.

Restaurant meals and ready-to-eat food prices rose 0.3 per cent, while meat, poultry, and fish prices rose 0.1 per cent, Crowe said.

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