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

 

Scoop Business: NZ Wool Exports Jump To The Highest In More Than A Decade

New Zealand wool exports jumped to their highest level in more than a decade in June, aided by a lower currency and strong demand from China, the nation’s largest market. More>>

ALSO:

Surreal Estate: Home Values Rise At Fastest Rate In Seven Years

The latest monthly QV House Price Index shows that nationwide residential property values for July have increased 10.1% over the past year which is the fastest annual rate since 2007... The Auckland market has increased 18.8% year on year. More>>

ALSO:

New Employment Laws: Talley’s AFFCO Workers To Strike

The decision comes after the Talley’s owned company walked away from mediation last week and applied to end bargaining under the government’s new employment laws - the first such application since the law came into effect. More>>

ALSO:

Private Action: Employer Pleads Guilty Over Forestry Death

The CTU has always known that the death of forestry worker Charles Finlay was due to the poor health and safety practices of his employer... "The CTU, with the support of Charles’s family, needed to take this ground breaking private prosecution." More>>

ICT Innovation: Six NZ Finalists In World Summit Awards

The awards are a global showcase of 40 projects, across eight categories, with a special emphasis on those which show the benefits of information and communication technology for the development of communities. New Zealand has finalists in six of the eight categories. More>>

ALSO:

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news