NZ food prices fall 0.5 per cent in February on cheaper beef and chicken prices.
New Zealand food prices fell 0.5 per cent in February on cheaper beef, chicken and grocery food prices.
Beef prices fell 4.4 per cent versus January, while chicken prices fell 3.4 per cent, Statistics New Zealand said.
The average price for cheapest available chicken breast was $12.83 a kilo, down from $13.94.
Grocery food prices also fell 0.7 per cent on the month, with lower prices for chocolate.
The statistics agency also said that fruit and vegetable prices fell 0.9 per cent versus January after months of very high prices.
However, it said some vegetables, such as lettuce, broccoli, and cauliflower, had large price rises due to adverse weather conditions.
Lettuce prices rose 32 per cent in the month to February 2018, the largest monthly rise for a February since 2013.
"In recent weeks, a combination of humid weather and cyclone Gita have affected some crops," consumer prices manager Geoffrey Wong said.
"As this occurred towards the end of February, we may continue to see higher prices in March."
After seasonal adjustments, monthly food prices were unchanged.
On the year, a decline in fruit and vegetable prices offset increases in all other food groups, with an overall annual increase in food prices of 0.1 per cent.
The food price index accounts for about 19 per cent of the consumers price index, which is the Reserve Bank's mandated inflation target when setting interest rates.
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