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Food Prices Fall 0.4 Percent in June

Food Prices Fall 0.4 Percent in June

Food prices fell 0.4 percent in June 2003, according to latest figures released by Statistics New Zealand. Price decreases for fruit and vegetables were partly offset by price increases for grocery food, soft drinks and confectionery; meat, fish and poultry; and restaurant meals and ready-to-eat food.

Fruit and vegetable prices recorded a decrease of 6.4 percent in June 2003. The most significant downward contribution came from lower prices for fresh vegetables (down 12.8 percent). The price decrease for fresh vegetables was driven by lower prices for tomatoes and lettuces. Grocery food, soft drinks and confectionery prices increased by 0.5 percent in June 2003. Price rises for boxed chocolates and coffee were partly offset by falls for frozen and chilled meat pies, and yoghurt.

Meat, fish and poultry prices rose 0.3 percent in June 2003, largely due to a 2.0 percent rise in smallgoods and prepared meat prices. Partly offsetting this rise was a 4.1 percent decrease in pork prices.

Restaurant meals and ready-to-eat food prices rose 0.3 percent in June 2003, mainly due to a 0.3 percent rise in ready-to-eat food prices. Restaurant meal prices increased by 0.1 percent.

Food prices rose by 0.6 percent from June 2002 to June 2003. Grocery food, soft drinks and confectionery prices made the most significant upward contribution, increasing by 1.4 percent. This was followed by restaurant meals and ready-to-eat food prices (up 2.0 percent) and fruit and vegetable prices (up 0.8 percent). Partly offsetting these increases was a 2.7 percent decrease in meat, fish and poultry prices.

Brian Pink Government Statistician END

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