New Zealand food inflation accelerated to a 14-month high in March, Stats NZ said on Tuesday.
Food prices grew 3.5 percent on a yearly basis in March, faster than the 2.4 percent increase in February. The rate was the strongest since January 2024.
Prices for the grocery food group and the meat, poultry, and fish group contributed the most to the annual inflation. However, partly offsetting the increase in food prices was lower prices for the fruit and vegetables group.
On a monthly basis, food prices moved up 0.5 percent, in contrast to the 0.5 percent fall in February.