Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Food Price Index - February 2000 - DBank

We have just published the following research which is attached as a pdf file;

Data Flash (New Zealand) Food Price Index - February 2000

Food Price Index Fruit & Vegetable Index mom. % ann. % mom. % ann. % Sep-99 0.3 -0.3 -1.4 -11.2

Oct-99 -0.6 -1.2 -6.6 -15.9

Nov-99 +0.5 -0.3 0.0 -13.8

Dec-00 -0.6 -0.5 +2.2 -9.1

Jan-00 +2.4 +1.1 +15.8 -1.1

Feb-00 -1.1 -1.1 -9.5 -17.6 Source: DB Global Markets Research, Statistics NZ

Key facts

The food price index fell 1.1% mom in February to a level 1.1% lower than February 1999. This followed a 2.4% mom increase in January.

The most significant contribution to the fall in February was a 7.8% decline in fruit and vegetable prices, partially reversing a sharp increase in January (sharp movements in tomato prices have been the key contributor to recent food price volatility).

Excluding fresh fruit and vegetables, food prices were unchanged in February and 1% higher than a year earlier.

The food price index (FPI) comprises 18% of the CPI regimen.


The 1.1% mom fall in food prices in February was at the lower end of market expectations. However, given that the fall was driven by volatile fruit and vegetable prices, the outturn has little significance for the medium-term inflation outlook.

We continue to forecast a 0.9% increase in the CPI in Q1/2000. A slightly lower figure is possible if fruit and vegetable prices remain below their trend level in March. Nonetheless, given increasingly widespread evidence of inflation pressures, we continue to expect a 50 bp increase in the OCR at the 15 March MPS.

Darren Gibbs, Senior Economist, ++64 9 351 1376

This, along with an extensive range of other publications, is available on our web site

© Scoop Media

Business Headlines | Sci-Tech Headlines


Trees: Surge Funding For Kauri Dieback And Myrtle Rust Research

“The $13.75 million investment announced today will mean that scientists can begin critically important research into kauri dieback and myrtle rust. It is vital that we get this work underway now to ensure that we combat these two pathogens and protect these taonga species." More>>


In Time For The Cup: Spark Sets 5G Date, Without Any Spectrum

Spark chief executive Simon Moutter has a big hairy audacious goal, to get the company's 5G mobile network up and running by July 2020 ... More>>


Mesh Mess: Commerce Commission To Appeal Steel & Tube Sentence

The Commission has today filed an appeal against the sentence imposed on Steel and Tube Holdings Limited (Steel & Tube) for false and misleading representations about steel mesh products. More>>

"Bipartisan Inaction": Rapid Rent Increases

The median nationwide rent has gone up $20 a week over the past two month, a rapid increase that is part of an upward trend overseen by both Labour and National Governments... More>>