Food prices rise in July

NEW ZEALAND - Food prices rose 0.4% in July on the previous month to be 2.1% higher than a year earlier. Statistics New Zealand data shows the rise in the food price index in July was driven by higher prices for eggs, fish and poultry, groceries, and restaurant meals, which offset cheaper fruit and vegetables.

A Reuters poll had a median expectation of a rise of 0.2% for the month and 2% on a year ago.

Meat, fish and poultry prices increased 2.4% in July, strongly influenced by price rises for beef steak, up 9.5% and bacon, up 4.6%.

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Source: tvnz.co.nz

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