The price of butter hit a record high in October, playing a big part in driving the Food Price Index higher over the year, Statistics NZ (SNZ) said. SNZ said rising dairy prices have pushed food prices up 2.7% in the year to October, following a 3% increase in the year to September. Monthly food prices fell 1.1% in October, with tomato, lettuce, cucumber, and capsicum prices showing large seasonal falls, SNZ said. Fruit and vegetable prices fell 6.8%October, making it the largest contributor to the monthly decrease. "Although fruit and vegetable prices have dropped this month, the impact of bad weather earlier in the year continues to cause higher prices compared with this time last year," Haigh said.

Source: Otago Daily Times November 19, 2017 22:07 UTC