New Zealand data: October Food Price Index -0.3% m/m (prior -0.4%)

New Zealand food prices fell 0.3 percent in October

• compares with -0.4% in September

• +4.7% y/y

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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
• FPI makes up around 19% of the kiwi CPI
• 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

This article was written by Eamonn Sheridan at investinglive.com.