Butter hits record price in New Zealand

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New Zealand food prices rose in August, with fruit and vegetables, meat, and groceries such as butter more expensive than a year earlier.
In particular butter prices hit a record high of $5.39 per block. This is up 11 per cent in the month and 62 per cent from a year earlier.
The study of prices was carried out as part of the consumer price index which monitors the price of goods in New Zealand.
Fruit and vegetables now cost 5.5% more than a year earlier, while meat, poultry and fish prices rose 0.6 per cent and grocery food prices increased 2.8 per cent.
The annual butter price increase is the largest in percentage terms since 2010, Stats NZ said. Chocolate prices also rose 3.4 per cent in the month.
Food prices account for about 19 per cent of the consumers price index.

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