News in Brief
Falling meat prices in New Zealand
Lower meat and poultry prices have driven an overall drop in New Zealand food prices.
Research from Stats NZ found that beef prices fell 4.4% in February, while chicken prices fell 3.4% with the average price for the cheapest available chicken breast at NZ$12.83 a kilo, down from $13.94 the previous month.
This led to an overall fall of 0.5% in food prices in February.
Partly offsetting these decreases was a 2.5% increase in restaurant meals and ready-to-eat food.
However, year-on-year, meat, poultry and fish prices increased 0.3%.
Fruit and vegetable prices fell 0.9% in the month, with no overall change after seasonal adjustment, although vegetable prices also decreased 4.7% year-on-year, with lower prices for tomatoes, carrots and onions. Carrot prices were at their highest-ever level in February last year.
