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


Food Prices Increase

Food Prices Increase

Food prices rose 0.3 percent in February 2005, according to the latest figures released by Statistics New Zealand. Higher prices were recorded for the meat, fish and poultry; fruit and vegetables; and restaurant meals and ready-to-eat food subgroups. Prices for the grocery food, soft drinks and confectionery subgroup were unchanged.

Prices for meat, fish and poultry rose 1.3 percent, driven by higher prices for poultry (up 3.7 percent) and lamb (up 9.0 percent). Lower prices were recorded for beef (down 0.9 percent).

Fruit and vegetable prices rose 0.6 percent, with significant upward contributions from kumara (up 24.3 percent), cauliflower (up 49.4 percent) and broccoli (up 26.0 percent). Downward contributions came from pumpkin (down 14.9 percent) and zucchini (down 43.6 percent).

Prices for restaurant meals and ready-to-eat food rose 0.2 percent. Ready-to-eat food prices increased by 0.2 percent, while prices for restaurant meals increased by 0.1 percent. Grocery food, soft drinks and confectionery prices recorded no overall movement in February.

Lower prices for fruit juice (down 8.7 percent), boxed chocolates (down 14.9 percent) and coffee (down 8.0 percent) were offset by higher prices for family packs of sweets (up 14.4 percent).

From February 2004 to February 2005, the Food Price Index increased 1.7 percent. Upward contributions came from meat, fish and poultry (up 4.7 percent); grocery food, soft drinks and confectionery (up 1.6 percent); and restaurant meals and ready-to-eat food (up 2.8 percent). These increases were partly offset by lower prices for fruit and vegetables (down 4.2 percent).

Brian Pink

Government Statistician

© Scoop Media

Business Headlines | Sci-Tech Headlines


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news