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New Zealand Fuel Prices Fall for Third Consecutive Month in July

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Petrol and diesel prices in New Zealand fell 5.7% and over 12%, respectively, in July compared with the previous month, according to a Stats NZ selected price indexes report on Monday.

"Fuel prices decreased for a third consecutive month," said prices and deflators spokesperson Nicola Growden. This means prices for petrol and diesel fell below levels recorded in March, although they remain higher than in February.

In the 12 months to July, the price for petrol was up over 15% and diesel up nearly 35%.

Food prices inched up 0.1% in July compared with the previous month, driven by a 3.1% rise in fruit and vegetable prices. "Meat and poultry prices recorded their largest monthly fall in more than five years, decreasing 1.7 percent in July," Growden added.

Food prices rose 1.9% in the 12 months to July, building on a 2.5% rise in the 12 months to June. "This is the smallest annual increase in food prices since December 2024," Growden said.

The restaurant meals and ready-to-eat food group climbed 3.2%, while the grocery food group was up 1.6% on an annual basis. In contrast, fruit and vegetable prices fell 1%.

Domestic and international airfares rose by almost 21% and roughly 11%, respectively, month over month in July.

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