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: August 2001

Food Prices Rise 0.5 Per Cent

Food prices were 0.5 per cent higher in August than in July 2001 according to latest figures from Statistics New Zealand. This follows an increase of 0.3 per cent in July. The latest increase was mainly due to higher prices for meat, fish and poultry, and for fruit and vegetables. These rises were partially offset by a small fall in grocery food prices.

In August 2001, meat, fish and poultry prices rose 2.2 per cent and made the most significant contribution to the overall Food Price Index movement. Beef prices rose 3.3 per cent and contributed over 50 per cent of the increase within the meat, fish and poultry subgroup in August, reflecting continued strong export beef prices.

Fruit and vegetable prices rose 0.9 per cent in August 2001 (after removing normal seasonal change) and were driven by higher prices for fresh fruit. Fruit and vegetable prices have shown a monthly pattern of alternating increases and decreases since February 2001. The most significant item contributions to the rise in the overall Food Price Index in August came from potatoes (up 15.9 per cent from July) and oranges (up 12.9 per cent).

Restaurant meals and ready-to-eat food prices rose by 0.3 per cent in August following increases of 0.5 per cent in July and 0.2 per cent in June 2001.

Grocery food, soft drinks and confectionery prices fell by 0.1 per cent in August 2001, following a rise of 0.7 percent in July and a fall of 0.4 per cent in June 2001. The most significant downward contributions to this subgroup came from lower prices for frozen and chilled meat pies, and soft drinks.

>From August 2000 to August 2001, food prices rose by 6.3 per cent. This increase is the largest annual increase since June 1990, when a rise of 10.0 per cent was recorded. However, this comparison should be made with caution, as the June 1990 annual increase was influenced by the rise in GST in July 1989. All of the subgroups recorded increases for the year to August. The largest annual increase was recorded for fruit and vegetables which rose 12.5 per cent, followed by meat, fish and poultry which recorded an increase of 11.9 per cent. Grocery food, soft drinks and confectionery prices rose 4.2 per cent in the year to August, and restaurant meals and ready-to-eat food prices rose 3.7 per cent over the same period.

Brian Pink Government Statistician END

© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>