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

 


Food prices down 0.3 percent in March

Food prices down 0.3 percent in March


11 April 2014

Food prices fell 0.3 percent in March 2014, but were up 1.2 percent on a year earlier, Statistics New Zealand said today. The monthly fall follows a 1.0 percent fall in February, and a 1.2 percent rise in January.

"In March, lower prices for a range of groceries, including snacks, biscuits, and cheese, were partly countered by higher prices for beef and vegetables," prices manager Chris Pike said.

The 1.6 percent fall for grocery food was influenced by price falls across most of the subgroup including confectionery, nuts, and snacks (down 3.5 percent); bread and cereals (down 1.8 percent); and milk, cheese, and eggs (down 0.6 percent).

Meat, poultry, and fish prices rose 0.9 percent, influenced by a 2.9 percent rise in beef prices. Beef prices are now 2.3 percent below their February 2012 peak.

Fruit and vegetable prices rose 0.5 percent in March. Higher prices for avocados, tomatoes, and strawberries were partly countered by seasonally lower prices for apples and kumara.

Annual change in prices

In the year to March 2014, the food price index (FPI) increased 1.2 percent, with higher prices recorded for all five subgroups.

The restaurant meals and ready-to-eat food subgroup (up 1.9 percent) had the largest impact, with ready-to-eat food up 2.1 percent and restaurant meals up 1.6 percent. Non-alcoholic beverage prices increased 2.7 percent, influenced by soft drinks and packaged coffee.

The meat, poultry, and fish subgroup was up 1.6 percent for the year, influenced by more expensive lamb (up 15 percent) and chicken (up 3.5 percent). Lamb prices are now 17 percent below their August 2011
peak.

Fruit and vegetable prices were up 1.5 percent, with more expensive tomatoes, oranges, and mandarins, partly offset by cheaper lettuce and kumara.

Grocery food prices (up 0.2 percent) increased slightly for the year. There were increases for milk, cheese, and eggs (up 6.7 percent) and oils and fats (up 6.1 percent). Prices decreased for bread and cereals (down 3.8 percent), which are now 5.0 percent below their February 2012 peak, and confectionery, nuts, and snacks (down 3.8 percent).

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: March 2014

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news