Annual food inflation in New Zealand has eased to 0.2% in May from 0.8% in April, data by Statistics New Zealand showed.
It has pointed to the smallest increase in food prices since September 2018.
Prices of fruit and vegetables plummeted 11.4% year-on-year in May, following a 1.1% drop in April.
In addition, prices of meat, poultry and fish decreased for the first time in more than three years in May, by 1.2% YoY.
On the other hand, cost of restaurant meals and ready-to-eat food (4.8% YoY versus 0.1% YoY in April), grocery food (1.3% YoY versus -0.6% YoY in April) and non-alcoholic beverages (2.7% YoY versus 1.4% YoY in April) increased.
The NZD/USD currency pair settled 0.44% lower at 0.6140 on Friday. For the week, the major Forex pair went up 0.64%, as it reversed a loss from the preceding week.
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