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Food Prices Drop

Media Release – 10 May 2006

Food Prices Drop

Food prices decreased 0.8 percent during April 2006, Statistics New Zealand said today. Price decreases were recorded in April for the grocery food, soft drinks and confectionery; meat, fish and poultry; and fruit and vegetables subgroups. However, the restaurant meals and ready-to-eat food subgroup increased.

The grocery food, soft drinks and confectionery subgroup was the main driver of the drop in food prices, decreasing 0.8 percent in April. The most significant downward contributions came from potato crisps (down 8.2 percent), bread and bread rolls (down 1.8 percent), chocolate biscuits (down 6.6 percent), and chocolate confectionery (down 2.8 percent).

The meat, fish and poultry subgroup also showed a significant movement, decreasing 1.6 percent during April 2006. The most significant downward contributions came from lower prices for fresh chicken (down 5.4 percent), pork (down 6.8 percent) and beef steak (down 2.9 percent).

The fruit and vegetables subgroup was also down during April 2006, decreasing 1.4 percent. The most significant downward contributions came from potatoes (down 11.9 percent) and cauliflower (down 42.6 percent). For the year to April 2006, food prices increased 1.9 percent. Prices increased for the grocery food, soft drinks and confectionery (up 1.5 percent); restaurant meals and ready-to-eat food (up 2.6 percent); meat, fish and poultry (up 1.6 percent); and fruit and vegetables (up 2.3 percent) subgroups.

Brian Pink

Government Statistician

ENDS

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