A survey of 80 countries shows New Zealand is the least vulnerable to rising food prices.
The survey by Japanese bank Nomura comes as economists predict a run of low food price inflation in New Zealand to end soon.
Statistics New Zealand says food prices fell 0.2% in August and prices have been lower for each of the past four months compared with the same month in 2009.
Fruit and vegetables fell 3.7% but this was mostly offset by rises in poultry, beverages and dairy.
It is the first time prices have been lower for four months in a row since 2000.
However, new demand has not been matched by production as the world economy recovers and prices are rising again.
A Russian ban on wheat exports has made the situation worse.
Nomura's chief economist for Asia Rob Subbaraman says prices will rise further but New Zealand is the least vulnerable to rises of the countries surveyed due to its high food exports.
Spending on food is also half the level of some developing countries.