Beef mince and steak prices increase as annual food costs rise 4.5%

Higher prices for beef mince and steak have contributed to a 4.5% annual rise in food prices in the year leading up to February, marking significant increases in some categories, as reported by Stats NZ. However, the agency revised down its January figures due to human error. Monthly data shows a slight decrease of 0.1% in food prices from January to February, with declines noted in four of six subcategories, despite a 7.5% annual increase in the meat, poultry, and fish group.

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