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Food prices up 0.6 percent in April

Food prices up 0.6 percent in April

13 May 2014

Food prices rose 0.6 percent in April 2014, and were up 1.5 percent on a year earlier, Statistics New Zealand said today. The monthly rise follows a 0.3 percent fall in March, and a 1.0 percent fall in February.

"In April, higher prices for beef and snack foods were partly countered by lower prices for kiwifruit and chicken," prices manager Chris Pike said.

Grocery food prices rose 1.0 percent, influenced by rises across the subgroup including milk, cheese, and eggs (up 1.4 percent), bread and cereals (up 1.0 percent), and confectionery, nuts, and snacks (up 1.0 percent).

Meat, poultry, and fish prices rose 0.9 percent, influenced by beef prices (up 3.1 percent). Beef prices are now at their highest level. This rise was partly offset by lower prices for chicken (down 2.9 percent) and lamb (down 3.9 percent).

Fruit and vegetable prices (up 0.4 percent) also rose in April. Seasonally higher prices for tomatoes and strawberries were partly countered by seasonally lower prices for kiwifruit.

Prices for non-alcoholic beverages fell 0.8 percent, influenced by more discounting on energy drinks and soft drinks.

Annual change in prices

In the year to April 2014, the food price index (FPI) increased 1.5 percent. For the second consecutive month all five subgroups showed annual increases.

The restaurant meals and ready-to-eat food subgroup (up 2.2 percent) had the largest impact, with ready-to-eat food up 2.4 percent and restaurant meals up 1.5 percent.

The meat, poultry, and fish subgroup was up 2.6 percent for the year, influenced by more expensive beef (up 2.6 percent), lamb (up 9.0 percent), and pork (up 9.1 percent).

Grocery food prices (up 1.0 percent) increased for the year. Higher prices were recorded for milk, cheese, and eggs (up 6.7 percent), influenced by increases for fresh milk (up 9.7 percent) and cheese (up 9.7 percent). Prices decreased for confectionery, nuts, and snacks (down 2.8 percent), influenced by lower prices for chocolate.

Prices also increased for non-alcoholic beverages (up 1.6 percent) and fruit and vegetables (up 0.9 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: April 2014

ENDS

© Scoop Media

 
 
 
 
 
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