Kiwi butter prices took a solid, and much welcomed drop in price last month after reaching an all time record high in November 2017.
The price of butter dropped 4.9 per cent in December 2017, to an average of $5.46 for the cheapest available 500g block, Stats NZ said today.
In November 2017 the price of butter was at a record $5.74 in New Zealand, despite it having fallen at international dairy auctions since October last year.
New Zealand, in contrast, had had four consecutive monthly price rises before the December 2017 drop.
Total food prices were also down in December 2017, with chocolate bars, wholemeal bread, tomatoes and nectarines also becoming cheaper.
Chocolate bars fell to $1.44 for a 50g bar, down 8.4 per cent.
However, avocado prices still remain twice as expensive as they were a year ago.
A 200g avocado had an average price of $2.31 in December 2017, compared with $1.23 in December 2016.
"Specials on grocery items drove food prices down this month, but the higher prices for dairy, fruit, and vegetables throughout the year meant consumers were still facing 2.3 percent higher food prices than last December," Stats NZ prices manager Matthew Haigh said.
Bread and cereal prices were also on the decline, a trend that started back in 2013.
A 700g loaf of grain bread had an average price of $3.10 in December 2017, compared with $3.75 in January 2013.
"Global wheat prices have been declining since late 2012, and from 2014 we saw a number of retailers holding their prices for cheapest available white bread fixed at $1," Mr Haigh said.
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