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

 


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

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Taxing Multinationals: EU Ruling Sours Apple

Shares of Apple slid, down 0.9 percent as of 3.08pm in New York, after the European Commission ruled that Ireland granted the company undue tax benefits of up to 13 billion euros (US$14.5 billion)—"illegal aid” under EU rules that the commission says Ireland now must recover from Apple. More>>

ALSO:

NZX Review: Best Practice Code Recommends Code Of Ethics

NZX, the sharemarket operator, is seeking feedback on proposed changes to its corporate governance best practice code including a published code of ethics, rules about share trading and continuous disclosure, and more transparency over board appointments and chief executive pay. More>>

ALSO:

Auditors:

Signs Of Life? SETI On Russian Space(?) Signal

A star system 94 light-years away is in the spotlight as a possible candidate for intelligent inhabitants, thanks to the discovery of a radio signal by a group of Russian astronomers... Could it be a transmission from a technically proficient society? At this point, we can only consider what is known so far. More>>

Post-Post: Brian Roche To Step Down As NZ Post CEO

Brian Roche will step down as chief executive of New Zealand Post in April 2017, having led the state-owned postal service's drive to adjust to shrinking mail volumes with a combination of cost cuts, asset sales, modernisation and expansion of new businesses. More>>

ALSO:

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news