Food inflation has eased to the lowest level since September 2018, according to new data.

A report by Stats NZ says food prices fell 0.2 percent in May on the month before, to be 0.2 percent higher than a year ago - the lowest annual increase in over five years.

Devon Funds Management Head of Retail Greg Smith says this comes as petrol prices are also dropping, but consumers shouldn't get too excited yet.

"They're still more than they were a year ago, petrol and diesel's 50 percent more expensive than pre-Covid."

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Food inflation has eased to the lowest level since September 2018, according to new data.
A report by Stats NZ says food prices fell 0.2 percent in May on the month before, to be 0.2 percent higher than a year ago - the lowest annual increase in over five years.
Devon Funds Management Head of Retail Greg Smith says this comes as petrol prices are also dropping, but consumers shouldn't get too excited yet.
"They're still more than they were a year ago, petrol and diesel's 50 percent more expensive than pre-Covid."
LISTEN ABOVE

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Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

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Greg Smith: Devon Funds Management Head of Retail on food inflation easing to lowest level in five years

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/de048630-543e-4729-9c77-b191015a1923/transcript