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Rise in fruit & veg prices boosts food prices by 2.2% in New Zealand

Figures out on Thursday are expected to show New Zealand's consumer price index (CPI) - the official measure of household inflation - rose 2 per cent in the year to March 31, according to economists.

A sharp rise in the price of fruit and vegetables boosted food prices 2.2 per cent in the first three months of the year according to economists at ASB.

Some economists say the spike is fleeting, and will almost immediately drop below 2 per cent, with the spike in food and fuel prices creating a temporary boost.

ASB chief economist Nick Tuffley said inflation was likely to drift lower, however it was clear that the increases were moving back towards "normal" levels.

source: stuff.co.nz

Publication date: 4/19/2017


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