Food prices in November cheaper than previous month

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Food prices are 6 percent higher than a year ago, but were cheaper in November than October.

Stats NZ said cheaper fruit and vegetables were the main reason for the 0.2 percent fall in November’s food prices compared to the previous month.

The annual increase was mostly driven by higher prices for fresh eggs, lollies and peanuts. Restaurant meals and ready-to-eat food were the second largest contributor.

Other selected price indexes indicated a 0.1 percent monthly increase in alcoholic beverages and tobacco, with an annual increase of 8.1 percent.

Petrol fell 2.2 percent month-on-month, but was up nearly 11 percent on the year earlier.

Rental housing also fell slightly in November by 0.2 percent month-on-month, but was up 5.5 percent on the year earlier.

Prices also fell slightly in October, led by a drop in most grocery and fresh food items.

Prices fell 0.9 percent that month compared with September. Despite the monthly fall, prices were 6.3 percent higher than a year earlier, Stats NZ said.