New Zealand food price index for May 2023 comes in at +0.3% m/m
- expected +0.3%, prior +0.5%
- for the y/y +12.1%
The New Zealand Food Price Index (FPI) is a measure of the changes in the average price of food items sold in New Zealand.
- calculated and published monthly by Statistics New Zealand
- the FPI tracks the prices of a basket of food items that represent the typical spending patterns of New Zealand households
- the FPI is an important indicator of inflation in New Zealand, as food prices account for a significant portion of household expenditure and 19% of NZ CPI
This article was written by Eamonn Sheridan at www.forexlive.com.
