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Food Prices Rise in July

Food Prices Rise in July

Food prices rose 0.7 percent in July 2003, according to latest figures released by Statistics New Zealand. Price increases were recorded for grocery food, soft drinks and confectionery; and fruit and vegetables. Prices for restaurant meals and ready-to-eat food; and meat, fish and poultry, were unchanged.

Grocery food, soft drinks and confectionery prices increased by 0.8 percent in July 2003.

Significant upward contributions came from higher prices for yoghurt (up 10.6 percent), fruit juice (up 5.0 percent), and pastry and dehydrated pasta (up 4.4 percent). These were partially offset by price falls for soft drinks and chocolate confectionery.

Fruit and vegetable prices rose 2.6 percent in July 2003, driven by higher prices for fresh vegetables (up 6.1 percent). After adjusting for normal seasonal change, significant upward price movements were recorded for broccoli (up 42.8 percent), tomatoes (up 16.0 percent) and potatoes (up 8.5 percent).

Prices for restaurant meals and ready-to-eat food recorded no overall change in July 2003. Meat, fish and poultry prices also recorded no change in July. The most significant upward contributions came from pork (up 6.7 percent) and beef (up 1.9 percent). Significant downward contributions came from poultry (down 3.9 percent) and lamb (down 2.4 percent).

Food prices increased by 0.7 percent from July 2002 to July 2003. Grocery food, soft drinks and confectionery prices (up 2.2 percent) made the most significant upward contribution.

Restaurant meals and ready-to-eat food prices increased by 1.8 percent. Partly offsetting these rises were price decreases for meat, fish and poultry (down 3.0 percent) and fruit and vegetables (down 1.1 percent).

Brian Pink

Government Statistician

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