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

 


Food Prices Fall In October But Rise For The Year


Food Prices Fall In October But Rise For The Year – Media Release

Food prices fell 0.6 percent in the October month, Statistics New Zealand said today. This reflects seasonally lower prices for vegetables, partly countered by higher grocery food prices.

"Lower food prices in October mainly reflected cheaper vegetables," prices manager Chris Pike said. "Tomato, lettuce, capsicum, and broccoli prices all fell, as they usually do at this time of year."

Two of the five food subgroups contributed to the fall in the food price index (FPI): fruit and vegetables (down 5.5 percent) and restaurant meals and ready-to-eat food (down 0.5 percent).

The key individual fall in October came from seasonally lower prices for tomatoes (down 32 percent). Prices were also lower for lettuce (down 27 percent), chocolate biscuits (down 10 percent, influenced by more discounting than in September), and capsicum (down 26 percent).

Prices were higher for: soft drinks, carrots, plain biscuits (influenced by less discounting than in September), sweets, pumpkin, and potatoes. Carrot prices (up 29 percent) usually rise at this time of year.

For the year to October 2012, food prices increased 0.3 percent. This follows five consecutive annual decreases. Four of the five food subgroups made upward contributions to the FPI: fruit and vegetables (up 8.4 percent), restaurant meals and ready-to-eat food (up 0.8 percent), meat, poultry, and fish (up 0.8 percent), and non-alcoholic beverages (up 0.1 percent). These increases were countered by a 2.7 percent fall in grocery food prices.

The key annual increases were tomatoes (up 61 percent, from $5.15 to $8.29 per kilogram) and kumara (up 93 percent). Higher prices were also recorded for avocados, pumpkin, soft drinks, and chicken pieces. The key annual decreases were fresh milk (down 9.5 percent) and butter (down 28 percent).

The FPI measures the rate of price change of food and food services purchased by households. Statistics NZ visits shops across New Zealand to collect prices for the FPI and check package sizes.

Published 13 November 2012


For more information about these statistics:
• Visit Food Price Index: October 2012
• Open the attached files

Information release (PDF) Tables (Excel) Copy of this media release (PDF)

(See attached file: FoodPriceIndexOct12.pdf) (See attached file: fpi-oct12-tables.xls) (See attached file: FoodPriceIndexOct12MR.pdf)

Food Price Index Oct12.pdf

fpioct12tables.xls

Food Price Index Oct12MR.pdf

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Gordon Campbell: On Tiwai Point (And Saying “No” In Greece)

Its hard to see how Rio Tinto’s one month delay in announcing its intentions about the Tiwai Point aluminium smelter is a good sign for (a) the jobs of the workers affected or (b) for the New Zealand taxpayer. More>>

ALSO:

Half Empty: Dairy Product Prices Extend Slide To Six-Year Low

Dairy product prices continued their slide, paced by whole milk power, in the latest GlobalDairyTrade auction, weakening to the lowest level in six years. More>>

ALSO:

Copper Broadband: Regulator Set To Keep Chorus Pricing Largely Unchanged

The Commerce Commission looks likely to settle on a price close to its original decision on what telecommunications network operator Chorus can charge its customers, though it probably won’t backdate any update. More>>

ALSO:

Lower Levy For Safer Cars: ACC Backtracks On Safety Assessments

Dog and Lemon: “The ACC has based the entire levy system on a set of badly flawed data from Monash University. This Monash data is riddled with errors and false assumptions; that’s the real reason for the multiple mistakes in setting ACC levies.” More>>

ALSO:

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Floods: Initial Assessment Of Economic Impact

Authorities around the region have compiled an initial impact assessment for the Ministry of Civil Defence, putting the estimated cost of flood recovery at around $120 million... this early estimate includes social, built, and economic costs to business, but doesn’t include costs to the rural sector. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news