Rapid increase for food prices

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Food prices have increased at the fastest pace in more than three years.

Cheaper fruit and vegetables helped bring down food prices. Photo: RNZ

Official figures show prices have risen by 1.9 percent in the year to March, which is the largest annual increase since December 2011.

Fruit and vegetable prices are up 7 percent compared with a year ago, with a global shortage driving banana prices up to their highest level, since records began.

Meat and fish prices are also higher, with beef rising 8 percent, in the last year.

However, senior economist at Westpac, Michael Gordon, said while prices were up, the increase was still quite modest.

March's food prices rose just 0.1 percent, following a 0.7 percent fall in February.

Food prices mad up about 19 percent of the consumer price index, which was a measure of inflation.