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


Annual food price increase reaches 18 year high

Embargoed until 10:45am – 15 July 2008

Annual food price increase reaches 18 year high

For the year to June 2008, food prices rose 8.2 percent. This is the highest annual increase since June 1990, Statistics New Zealand said today.

All five subgroups recorded upward contributions to the annual increase, with the most significant upward contribution coming from higher prices for the grocery food subgroup (up 12.1 percent). Within this subgroup, the main contributions came from higher prices for fresh milk (up 22.0 percent), cheddar cheese (up 61.9 percent), bread (up 15.2 percent), and butter (up 86.6 percent).

The remaining four subgroups recorded, in order of significance, the following upward contributions: restaurant meals and ready-to-eat food (up 5.5 percent), fruit and vegetables (up 8.7 percent), meat, poultry and fish (up 4.4 percent), and non-alcoholic beverages (up 4.9 percent).

Food prices increased 1.3 percent in the June 2008 month. The increase was mainly due to higher prices for the following subgroups: fruit and vegetables (up 5.2 percent), meat, poultry and fish (up 1.3 percent), and grocery food (up 0.4 percent).

Within the fruit and vegetables subgroup, the main contributor to the 5.2 percent increase were higher prices for fruit (up 9.7 percent). The increase was driven in particular by oranges (up 28.9 percent), apples (up 13.1 percent), and peaches (up 79.0 percent). Vegetable prices (up 2.6 percent) also made an upward contribution to this subgroup. The increase was driven by higher prices for lettuce (up 34.4 percent), which was partially offset by lower prices for tomatoes (down 18.8 percent).

The rise in prices for the meat, poultry and fish subgroup mainly came from higher prices for poultry (up 4.8 percent).

Geoff Bascand
Government Statistician
15 July 2008


There is a companion Hot Off The Press information release published – Food Price Index: June 2008.


© Scoop Media

Business Headlines | Sci-Tech Headlines


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>


Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>