Statistics New Zealand in May reported a dip in annual food prices, the first in nearly six years, according to an online report. Overall prices for meat, poultry, fish, fruit and vegetables dropped 0.7 percent in May this year and 0.5 percent for 2010 through May.

Prices for fruit and vegetables have been dropping for about a year. Food prices peaked in July last year but are now 3.8% below that, at levels last seen in 2008.