Food prices declined in May 2020

  • Jun 15, 2020 NZST
  • Team Kalkine
Food prices declined in May 2020

As per Stats NZ's latest report, the food prices dropped by 0.8 per cent in May 2020, and it is the most significant reduction since December 2017. The price drop was due to lower prices for grocery, which was down by 1.1 per cent and the price drop of 2% for meat, fish, and poultry dropped by. Also, the cost of non-alcoholic beverages was down by 2.4 per cent.

The price rise of fruits and vegetables could offset the overall food price fall to some extent. When winter approaches, fruits and vegetables often become costly, this time it was up by 1.7 per cent.

 


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