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

 


Food prices fall 0.2 percent in December month

Food prices fall 0.2 percent in December month – Media release

Food prices fell 0.2 percent in the December month, and were down 1.0 percent on a year earlier, Statistics New Zealand said today. Lower prices in the December month for non-alcoholic beverages (down 2.8 percent) offset a rise in meat, poultry, and fish prices (up 0.9 percent).

“Food prices fell in December, reflecting cheaper prices for non-alcoholic drinks that were partly countered by higher prices for chicken and seasonal price rises for fruit,” prices manager Chris Pike said.

This fall for non-alcoholic beverages was led by soft drinks (down 2.6 percent), coffee (down 5.6 percent), and fruit juice (down 6.1 percent), which were all lower due to discounting.

The rise in meat, poultry, and fish prices was mainly influenced by higher prices for chicken pieces (up 10 percent), due to less discounting. However, this rise was balanced by the falling price of lamb (down 14 percent). This is the lowest lamb has been since February 2009.

In the December month, fruit and vegetables rose 0.7 percent. Seasonal rises in apple (up 14 percent), potato (up 13 percent), and kiwifruit prices (up 28 percent) provided the main upward contributions. The main downward contributions came from seasonal falls in tomato (down 30 percent) and broccoli prices (down 31 percent). Tomato prices often fall in the spring and early summer months. They have fallen 30 percent or more in each of the past three months and are now 75 percent lower than their off-season peak in August 2012.

Annual movements

Shifting the focus to annual from monthly price changes, the food price index (FPI) decreased 1.0 percent in the year to December 2012. Grocery food (down 3.6 percent) made the main downward contribution. Significant individual contributions came from fresh milk (down 9.4 percent), cheese (down 8.2 percent), and bread (down 4.2 percent).

The price of lamb decreased 24 percent, which is the largest annual fall since the series began in January 1989. Takeaway pizza prices also decreased (down 12 percent).

For the year to December 2012, fruit and vegetables (up 6.0 percent) made the main upward contribution. Kumara (up 109 percent), avocado (up 107 percent), apple (up 20 percent), and pumpkin (up 32 percent) prices all increased. High kumara prices were influenced by poor weather conditions in both the planting and harvesting seasons, which affected the crop in 2012. Avocados enjoyed a bumper season in 2011, with a large quantity available on the market. Avocado harvests follow a two-year pattern, with a smaller crop every other year.

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.

ENDS

For more information about these statistics:
• Visit Food Price Index: December 2012
• Open the attached files
FoodPriceIndexDec12.pdf
fpidec12tables.xls

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Policy Statement: Spending Wins Over Tax Cuts; Big Ticket Items Get Boost

Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. More>>

ALSO:

Fishy: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news