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

 

Food Prices Fall 0.3 Percent

Food prices fell 0.3 percent in June 2002, according to latest figures released by Statistics New Zealand.

Price decreases were recorded for meat, fish and poultry and for fruit and vegetables. Food prices have decreased in each of the past two months.

Meat, fish and poultry prices fell by 1.5 percent in June 2002, making the most significant downward contribution to the overall change in food prices. This follows a decrease in May of 1.4 percent.

The most significant downward contributions in June 2002 came from lower prices for poultry (down 3.8 percent) and smallgoods and prepared meats (down 2.4 percent).

Fruit and vegetable prices fell by 1.2 percent in June 2002. After adjusting for normal seasonal change, significant decreases were recorded for tomatoes (down 22.8 percent), potatoes (down 4.6 percent) and lettuces (down 7.7 percent).

Fruit and vegetable prices have fallen in eight of the past 12 months.

Grocery food, soft drinks and confectionery prices rose 0.3 percent in June 2002, following a decrease of 0.6 percent in May. The increase in grocery food in June was driven by higher prices for boxed chocolates (up 21.9 percent) and packets of sweets (up 3.7 percent). These increases were partly offset by price falls for fruit juice (down 9.3 percent).

Restaurant meals and ready-to-eat food prices rose 0.2 percent in June 2002. This follows an increase of 0.3 percent in May. The increase in June was mainly due to higher ready-to-eat food prices, which rose by 0.2 percent.

From June 2001 to June 2002, food prices rose 3.0 percent. This is the lowest annual increase since October 2000, when food prices rose by 2.9 percent from a year earlier.

Grocery food, soft drinks and confectionery prices rose 3.9 percent in the year to June 2002, and meat, fish and poultry prices rose 5.8 percent over the same period. Restaurant meals and ready-to-eat food prices rose 4.3 percent, while fruit and vegetable prices decreased 5.8 percent.

Brian Pink

Government Statistician

END


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. 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:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. 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>>

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>>