Biggest fall in food prices since April 2006

Biggest fall in food prices since April 2006

Statistics New Zealand latest report says that the food prices dropped down 0.6% with a sharp drop in kiwifruit prices almost by 55%.

In spite of the drop in April the food prices increased by 7.6% for the year to April 2009.

In the month of April fruit and vegetable dropped by 2%, grocery food fell by 0.4%, meat, poultry and fish decreased by 0.8%.

Non-alcoholic drinks dropped by approximately 1% during the month.

Restaurant meals and ready-to eat food increased by 0.4% and was the only subgroup to increase.

The most important decline came from the fruit and vegetables subgroup driven by lesser prices for kiwifruit (down by 54.8%).

The most important individual upward contribution came from tomatoes, witnessing a price increase of 26%.