New Zealand data: August Food Price Index +0.3% m/m (prior +0.7%)

New Zealand food prices in August +0.3% m/m, data from Statistics New Zealand

• July was +0.7%

+5.0% y/y

• July was also +5%

Food prices make up nearly 19 percent of the consumer price index in NZ.

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The New Zealand Food Price Index (FPI) is a measure of the changes in the average price of food items sold in New Zealand.

• calculated and published monthly by Statistics New Zealand
• the FPI tracks the prices of a basket of food items that represent the typical spending patterns of New Zealand households
• the FPI is an important indicator of inflation in New Zealand, as food prices account for a significant portion of household expenditure

This article was written by Eamonn Sheridan at investinglive.com.