Despite food prices being rising slightly in the month of June, the price of cheddar cheese and other dairy products has been plunging.
Cheddar cheese is now at an eight-year low, down 9.5 per cent from this time last year.
Dairy product prices weakened across the board, with fresh milk slipping 3.9 per cent and yogurt falling 9.2 per cent, Statistics New Zealand yesterday said.
The average price of a kilo of cheddar cheese fell to $7.68, from $9.12 a year earlier, marking the lowest level since September 2007, the statistics agency said.
Overall June food prices were up 0.4 per cent, led by seasonally higher prices for cucumber, capsicums and lettuce. Vegetable prices were up 8.4 per cent while fruit prices fell 0.9 per cent.
