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

 

Food Prices Rise 0.5 Per Cent

Food Price Index: February 2001

Food prices rose 0.5 per cent between January and February 2001, and are 5.7 per cent higher than in February 2000, according to Statistics New Zealand. This latest annual increase is the ninth in a row and the largest since July 1990, when an increase of 6.0 per cent was recorded.

The most significant item contributions to the February 2001 increase came from rises in the seasonally adjusted prices of apples and tomatoes. The most significant downward item contribution came from potatoes.

Fruit and vegetables (after removing normal seasonal change for fresh produce) rose in price by 4.0 per cent, making the most significant contribution to the movement of the Food Price Index in February 2001. This was mainly due to an 8.8 per cent rise in the price of fresh fruit. Although fruit and vegetable prices are frequently volatile on a month to month basis, an increase has occurred in each of the past five months.

The meat, fish and poultry subgroup rose by 0.7 per cent, making the next most significant contribution to the movement of the Food Price Index in February 2001. For nine out of the last ten months, this subgroup has shown price increases. In the year to February 2001, the meat, fish and poultry subgroup rose by 8.2 per cent. Prices have now risen continuously on an annual basis for nearly three years.

The grocery food subgroup decreased by 0.5 per cent and was the only subgroup to fall in the month of February. This is the first monthly decrease in grocery food prices since October 2000, partly as a result of items going on special outnumbering those going off special. This month, the most significant contribution to the subgroup decrease was a fall in the price of boxed chocolates influenced by Valentine's Day specials. Other significant decreases came from bread, packets of sweets and potato crisps.

Brian Pink

GOVERNMENT STATISTICIAN

END


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO:

Retail: IKEA To Open In New Zealand

Inter IKEA Systems B.V. is today announcing its intentions to grant the Ingka Group exclusive rights to explore expansion opportunities in New Zealand. More>>