New Zealand food price index +0.5% m/m in September (prior +0.2%)

New Zealand data, adding to the awful PMI just released:

• New Zealand manufacturing PMI for September improves to a still dire 46.9 (prior 46.1)

Bad dat from New Zealand is not a surprise, but a tick up in this inflation measure is not welcome.

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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
• 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