Food Price Index: July 2016: Food prices decreased 1.3 percent in the year to July 2016, Statistics New Zealand said today. This follows a decrease of 0.5 percent in the year to June 2016.
Grocery food prices decreased 2.9 percent in the year, influenced by all the main dairy products decreasing in price:
cheese (down 11 percent)fresh milk (down 3.2 percent)yoghurt (down 9.7 percent)butter (down 11 percent).
“The price of cheese has continued to fall in the year to July 2016, to its lowest price since October 2009," consumer prices manager Matt Haigh said. "The average price of a kilo block of the cheapest available mild cheddar cheese was $7.39 in July 2016, down from $9.07 in July 2015.”
