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New Zealand August Food Prices Down 0.9%

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Food prices in New Zealand declined by the most in more than three years in August.

Statistics NZ reported Friday that food prices decreased 0.9 percent compared to July, led by lower prices for grocery foods, fruits and vegetables.

For the year to August 2009, food prices increased 4.6 percent, the smallest on-year increase since January 2008.

Statistics NZ said the fruit and vegetables group declined 1.1 percent on year in August 2009, the first annual fall since February 2008.

(Market News Provided by RTTNews)

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