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

 

NZ: Food Price Index - August 2001

Data Flash (New Zealand) NZ: Food Price Index - August 2001

Key points

The food price index rose by 0.5%mom in August - the market had expected an increase of 0.3% mom. The annual rate of food price inflation rose to 6.3% from 5.8% last month - the highest rate of annual food price inflation since June 1990. The Food Price Index makes up 18% of the CPI regimen.

Fruit and vegetable prices rose 0.9% mom to be 12.5% higher than a year earlier.

Meat prices rose 2.2% mom to be 11.9% higher than a year earlier. Groceries fell 0.1% mom due to a greater proportion of goods going `on special' than `off special'. Recently increases in milk and dairy product prices will be captured in the September survey, leading to an estimated 2% mom rise in grocery prices.

The Restaurant and takeaway meals index rose 0.3% mom and 3.7% yoy.

Comment

Our preliminary forecast for the Q3 CPI is 0.5-0.6% qoq (the RBNZ forecast 0.6% qoq in its August Monetary Policy Statement). This result would see the annual rate decline from 3.2% to 2.3-2.4%.

Darren Gibbs, Senior Economist


This, along with an extensive range of other publications, is available on our web site http://research.gm.db.com

Please do not respond to this mailbox. If you need to update your contact information or request new research, contact your Deutsche Bank Sales Contact.


© 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>>

Elsewhere:


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>>

ALSO:


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>>

ALSO:

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>>