Food price inflation falls to zero
Wellington reporter Food price inflation fell to zero last month, its lowest since December. 1980, except for the period of the price freeze. The Statistics Department’s food price index shows an increase of 14.6 per cent in the year ended October, a slowing in food price inflation from 15.8 per cent in the year to September.
The Prime Minister, Mr Lange, has welcomed ” the October result, saying it shows that the Government’s economic polices to fight inflation are starting to bite.
Mr Lange noted that the index had risen only 4 per cent in the last six months, which was “well within single-digit territory on an annual basis.” The Minister of Trade and Industry, Mr Caygill, said the zero result “bodes well for a further reduction in the rate of increase in consumer prices generally in the December quarter.” The food price index shows falls in prices for fresh fruit and vegetables, and meat, during October. The index was down from a 1.2 per cent rise during September and a 1 per cent rise in August. Further report, page 6
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Press, 13 November 1985, Page 1
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186Food price inflation falls to zero Press, 13 November 1985, Page 1
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