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

 


Dairy products dominate annual food price rises

Dairy products dominate annual food price rises

Feb. 14 (BusinessDesk) – Food prices rose 0.9 percent in the year to January, spurred by an 8.8 percent rise in the price of milk, 20 percent rise in butter prices, and a 4 percent increase for cheese, although dairy products saw price falls in the month of January.

Statistics New Zealand data released this morning shows food prices rose 1.2 percent last month, reflecting a 4.4 percent, seasonally adjusted increase in fresh produce prices, and offset by lower prices for milk, eggs and cheese.

Fruit prices in January rose 7.4 percent on December, driven largely by apples, strawberries, kiwifruit and mandarins. Vegetable prices rose 1.8 percent over the previous month.

Among grocery items, which were up 0.9 percent between December and January, contributors to the increase were a 1.5 percent rise in non-alcoholic beverage prices, a 0.8 percent increase in meat, poultry, and fish prices.

Restaurant and ready-to-eat food prices rose 0.1 percent in January and 1.7 percent over the previous 12 months, compared with 1.3 percent fall over 12 months in fresh produce prices, the only food sub-group to show a fall in the year to Jan 31.

Pumpkins, grapes, avocados, and pears showed the biggest falls.

(BusinessDesk)

© 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