Food prices in New Zealand were down 0.7 percent on month in February, Statistics New Zealand said on Thursday.
That missed forecasts for a decline of 0.4 percent following the 1.3 percent gain in January and the 0.3 percent increase in December.
Fueling the decline, fruit and vegetable prices fell 2.4 percent on month, while meat, poultry, and fish prices dropped 1.6 percent.
On a yearly basis, food prices climbed 1.5 percent after rising 1.2 percent in the previous month.
The material has been provided by InstaForex Company – www.instaforex.com