New Zealand food prices drop 0.9% in October 2023, impacting Inflation

<p>New Zealand Food Price Index (FPI) fell 0.9% m/m in October 2023</p><ul><li>prior -0.4%</li><li>for the y/y +7.1%</li></ul><p> Food prices make up nearly 19% of the NZ consumer price index, and thus the FPI is an important indicator of inflation in the country.</p><p>—</p><p>The Index is a measure of the changes in the average price of food items sold in New Zealand
</p><ul><li>
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</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.