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

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news