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

 

Food Price Index (November 2001)

Data Flash (New Zealand)
Food Price Index (November 2001)

Key points

The food price index rose a 0.1% mom rise in November (the market expectation was for a 0.2% rise).

The annual rate of food price inflation declined from 7.7% in October to 6.7% in November. A 3.6% mom decline in fruit and vegetable prices was more than offset by higher prices for meat (+1.3% mom), general groceries (+0.5% mom) and restaurant and ready-to-eat food (+0.7% mom).

Comment

Although global commodity prices have softened in recent months, earlier sharp increases in the prices obtained for basic meat and dairy products are continuing to have both direct and indirect impacts on the food price index (eg this month, significant prices rises were recorded for beef, cheese, sandwiches and chocolate).

Our preliminary forecast for the Q4 CPI is +0.5% qoq (the RBNZ forecast 0.6% qoq in its November MPS). This result would see the annual rate decline from 2.4% to 1.8%.

Darren Gibbs, Senior Economist


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Space: They Landed Robots On An Asteroid

On September 21, the small compact MINERVA-II1 rovers separated from the Hayabusa2 spacecraft... both rovers landed on the surface of asteroid Ryugu. The two rovers are in good condition and are transmitting images and data. More>>

RNZ: Court Of Appeal Rejects NZME-Stuff Merger

The Court of Appeal has turned down the proposed merger between media companies NZME and Stuff... The Commerce Commission had turned down the merger because of concerns about concentrating too much commercial and editorial power in one organisation. More>>

ALSO:

Cut Before Using: Australian Strawberries Withdrawn

Needles were found in a punnet of strawberries sourced from Western Australia, which was bought in a Countdown supermarket in Auckland. The Choice brand of strawberries was sold nationwide last week. More>>

ALSO:

Gordon Campbell: On The Tax Working Group’s Road Map

Trying to analyse the interim report on the Tax Working Group (TWG) is like trying to review an entire All Blacks game, but at the half- time mark… More>>

ALSO: