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Grocery food drives food prices up

Embargoed until 10:45am – 13 May 2008

Grocery food drives food prices up

Food prices increased 0.3 percent in the April 2008 month, Statistics New Zealand said today. The increase was mainly due to higher prices for the grocery food subgroup (up 1.2 percent).

Within the grocery food subgroup, the main contributors to the 1.2 percent increase were higher prices for yoghurt (up 8.8 percent), sauces (up 5.1 percent), potato crisps (up 4.6 percent) and eggs (up 7.6 percent).

The main downward contributions came from lower prices for chocolate (down 1.5 percent) and processed cheese (down 13.4 percent).

The most significant downward subgroup contribution in the April 2008 month came from lower prices for non-alcoholic beverages (down 2.7 percent). Within this subgroup, the main contributors to the decrease were lower prices for soft drinks (down 3.2 percent) and fruit juice (down 6.6 percent).

For the year to April 2008, food prices rose 6.0 percent. All of the five subgroups recorded upward contributions, with the most significant upward contribution coming from higher prices for the grocery food subgroup (up 10.7 percent). Within the subgroup, the main contributors came from higher prices for cheese (up 45.5 percent), fresh milk (up 21.1 percent), bread (up 13.1 percent) and butter (up 86.0 percent).

The remaining four subgroups recorded, in order of significance, the following upward contributions: restaurant meals and ready-to-eat food (up 5.0 percent), meat, poultry and fish (up 2.3 percent), nonalcoholic beverages (up 3.0 percent) and fruit and vegetables (up 1.0 percent).

Geoff Bascand

Government Statistician

13 May 2008

ENDS

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