Food Prices Drop

Food Prices Drop

Food prices dropped 0.5 percent during December 2006, Statistics New Zealand said today. Falling prices for the grocery food, and fruit and vegetable subgroups were the main contributors.

Prices for the grocery food subgroup fell 0.8 percent, with the most significant downward contributions coming from potato crisps (down 6.1 percent) and chocolate (down 3.5 percent).
In the fruit and vegetable subgroup, prices were down 1.9 percent. Lower prices for tomatoes (down 35.3 percent) and cabbages (down 35.3 percent) were partly offset by an increase in apple prices (up 18.0
percent).

For the year to December 2006, food prices rose 2.7 percent. Prices increased for all subgroups: fruit and vegetables (up 12.9 percent), restaurant meals and ready-to-eat food (up 3.1 percent), meat, poultry and fish (up 1.6 percent), grocery food (up 0.5 percent), and non-alcoholic beverages (up 0.1 percent).

ENDS

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