FX.co ★ New Zealand Food Prices Skyrocket In February

Food prices in New Zealand surged 12.0 percent on year in February, Statistics New Zealand said on Monday - accelerating from the 10.3 percent annual increase in January.

Individually, grocery food prices increased 12 percent on year, while fruit and vegetables prices increased 23 percent, restaurant meals and ready-to-eat food prices increased 8.4 percent, meat, poultry and fish prices increased 9.8 percent and non-alcoholic beverage prices increased by 9.1 percent.

On a seasonally adjusted monthly basis, food prices rose 2.1 percent; unadjusted, prices rose 1.5 percent.