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Food Prices Fall in June

Food Prices Fall in June

Food prices fell 0.1 percent in June 2004, according to latest figures from Statistics New Zealand. Lower prices for grocery food, soft drinks and confectionery; and fruit and vegetables were partly offset by higher prices for restaurant meals and ready-to-eat food; and meat, fish and poultry. Grocery food, soft drinks and confectionery prices fell 0.4 percent in June 2004. The most significant downward contribution came from lower prices for potato crisps (down 9.9 percent).

This was partly offset by price rises for sauces and pickles (up 6.6 percent) and canned meals (up 6.5 percent). Prices for fruit and vegetables fell 0.9 percent in June 2004. The most significant downward contributions came from fresh fruit (down 1.8 percent) and fresh vegetables (down 1.0 percent).

These falls were mainly driven by lower prices for bananas (down 17.3 percent), tomatoes (down 19.3 percent) and potatoes (down 5.1 percent). Partly offsetting these falls were price rises for lettuces (up 25.6 percent), apples (up 6.6 percent) and cauliflower (up 24.3 percent). Restaurant meals and ready-to-eat food prices increased by 0.6 percent in June 2004. Ready-to-eat food prices increased by 0.9 percent and restaurant meals prices increased by 0.2 percent.

Meat, fish and poultry prices rose 0.1 percent in June 2004. The most significant upward contributions came from higher prices for pork (up 4.9 percent) and bacon (up 3.4 percent). The most significant downward contributions came from lower prices for sausages and saveloys (down 2.2 percent), and poultry (down 1.2 percent).

Food prices increased by 0.9 percent from June 2003 to June 2004. Upward contributions came from restaurant meals and ready-to-eat food (up 2.6 percent); fruit and vegetables (up 2.5 percent); and grocery food, soft drinks and confectionery (up 0.5 percent). Partly offsetting these increases were decreases in prices for meat, fish and poultry (down 1.3 percent).

Brian Pink
Government Statistician
END


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