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

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news