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

 


Food prices fall 1.0 percent in February

Food prices fall 1.0 percent in February

13 March 2014


Food prices fell 1.0 percent in February 2014, but were up 0.2 percent on a year earlier, Statistics New Zealand said today.

"Boxed chocolates were cheaper in the lead-up to Valentine's Day," prices manager Chris Pike said. "February also saw seasonally cheaper fruit and vegetables and cheaper beef and lamb."

The seasonal fall in fruit and vegetable prices (down 5.9 percent) was influenced by price falls for both vegetables (down 6.5 percent) and fruit (down 5.1 percent). The main downward contributions came from apples and tomatoes.

Meat, poultry, and fish prices fell 1.9 percent, reflecting lower prices for beef (down 4.6 percent) and lamb (down 9.0 percent). Restaurant meals and ready-to-eat food (down 0.2 percent) also fell.

Non-alcoholic beverage prices rose 0.7 percent, influenced by less discounting on soft drinks (up 2.3 percent).

Grocery food prices (up 0.1 percent) rose slightly. Snack foods and sauces recorded higher prices, while chocolate prices fell. The price of boxed chocolates (down 21 percent) falls every February, when Valentine's Day occurs.

Annual change in prices

In the year to February 2014, the food price index (FPI) increased 0.2 percent.

Prices increased for grocery food (up 1.0 percent), restaurant meals and ready-to-eat food (up 1.6 percent), and non-alcoholic beverages (up 1.7 percent).

For grocery food, prices for milk, cheese, and eggs (up 5.7 percent) made the main upward contribution. Lower prices for bread and cereals (down 2.1 percent), and confectionery, nuts, and snacks (down 1.9 percent) partly countered this increase.

The price increase for non-alcoholic beverages was largely influenced by soft drink prices (up 2.6 percent).

In the year to February 2014, fruit and vegetable prices decreased 5.6 percent, influenced by lower prices for apples, lettuce, tomatoes, avocados, and cucumber.

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.

For more information about these statistics:
• Visit Food Price Index: February 2014

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Constructions Builds: Consents Top $2 Billion For The First Time

Building consents reached a record $2 billion in March 2017, boosted by new homes and several big non-residential projects, Stats NZ said today. This was up 37 percent compared with March 2016. More>>

Other Stats:

Health: Work Underway To Address Antimicrobial Resistance

As part of a global response the Ministries of Health and Primary Industries have today jointly published ‘Antimicrobial Resistance: New Zealand’s current situation and identified areas for action’ to respond to the changing pattern of antimicrobial resistance in New Zealand. More>>

ALSO:

Employment: Vodafone Announces Family Violence Policy To Support Team

From today, any of Vodafone’s 3,000 workers affected by family violence will be eligible for a range of practical support, including up to 10 additional days of paid leave per year. More>>

Burning Up Over Saturn: Cassini's Grand Finale

With propellant running low, NASA scientists are concerned that the probe might accidentally crash into one of Saturn’s nearby moons, which could contaminate it with Earthling bacteria stuck to the spacecraft. Instead, the spacecraft will be safely "disposed" in Saturn's atmosphere. More>>

ALSO:

Our Fresh Water: Monitoring Report Confirms Serious Challenges For Rivers

• nitrogen levels are getting worse at 55 percent and getting better at 28 percent of monitored river sites across New Zealand • phosphorus levels are getting better at 42 percent and getting worse at 25 percent of monitored river sites across New Zealand More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news