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

 

Trade Agreements: TPP Minus US Starting To Gain Ground

The Japanese government is picking up the pace on reviving the Trans-Pacific Partnership trade and investment deal, with talks scheduled next month among the 11 countries left in the pact after the withdrawal by the US after the election of president Donald Trump. More>>

ALSO:

PACER:

Prices Up 2.2%: Annual Inflation Highest In Over Five Years

"Rising petrol prices along with the annual rise in cigarette and tobacco tax lifted inflation," prices senior manager Jason Attewell said. "Petrol prices in New Zealand are closely linked to global oil prices, and cigarettes and tobacco taxes rise in the March quarter each year". More>>

ALSO:

Undertaxed? NZ Income Tax Rate Second Lowest Among Developed Nations

New Zealand workers pay the second smallest portion of their income to the government among developed nations and less than half the average ratio of their Organisation for Economic Cooperation and Development peers. More>>

ALSO:

Cyclone Cook: Round Up Of This Week’s Weather

One of the significant impacts this week was flooding due to excessive rainfall amounts. Rainfall amounts topped out at 350mm over the past 60 hours in parts of northwest Nelson, with 200mm+ measurements recorded about Coromandel Peninsula, and between 150-200mm in the Kaimai Ranges. Rainfall amounts of between 30-50mm were commonplace elsewhere. More>>

ALSO:

Earlier: Batten Down The Hatches For Cyclone Cook

Although fast-moving, Cyclone Cook will be destructive and MetService Expert Meteorologists have issued Severe Wind Warnings for the whole of the North Island apart from Northland... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news