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Food Price Index: October 2005

Food Price Index: October 2005 —

11 November 2005 Beef Prices Push Food Price Index Up

Food prices increased 0.3 percent in October 2005, Statistics New Zealand said today. Prices increased for the meat, fish and poultry; restaurant meals and ready-to-eat food; and fruit and vegetables subgroups. Prices for the grocery food, soft drinks and confectionery subgroup decreased.

Meat, fish and poultry prices increased 1.9 percent in October 2005, strongly influenced by price increases for beef steak (up 2.9 percent). Other significant contributions came from higher prices for pork (up 5.1 percent) and beef mince (up 4.1 percent). Restaurant meals and ready-to-eat food prices increased 0.3 percent in October 2005, driven by higher prices for restaurant meals (up 0.4 percent).

Fruit and vegetable prices were up 0.2 percent in October 2005, with the greatest upward contributions coming from carrots (up 18.9 percent) and apples (up 8.2 percent). The most significant downward contribution came from tomatoes (down 17.3 percent). Grocery food, soft drinks and confectionery prices fell 0.3 percent, with the largest downward contributions coming from soft drinks (down 2.1 percent) and chocolate confectionery (down 2.5 percent). These decreases were partly offset by higher prices for fruit juice (up 7.1 percent) and soup powder (up 8.5 percent).

From October 2004 to October 2005, food prices increased 1.1 percent. Prices increased for the restaurant meals and ready-to-eat food (up 2.5 percent); grocery food, soft drinks and confectionery (up 1.1 percent); and meat, fish and poultry (up 2.7 percent) subgroups. Prices for the fruit and vegetables subgroup decreased 3.5 percent.

Geoff Bascand

Acting Government Statistician


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