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 May


Food prices up 0.6 percent in May


13 June 2014

Food prices rose 0.6 percent in May 2014, Statistics New Zealand said today. This rise followed a 0.6 percent rise in April, and falls in March and February.

“Higher food prices in May were influenced by seasonally higher prices for fresh vegetables, particularly lettuce, tomatoes, and cucumbers,” prices manager Chris Pike said. “However, prices were lower for bananas and chicken.”

Vegetable prices rose 16 percent, while fruit prices fell 3.9 percent. Banana prices fell 14 percent to an average price of $2.33 per kilo – their lowest level since August 2011.

Prices for meat, poultry, and fish fell 1.5 percent, reflecting cheaper prices for most meats, including chicken, beef, and pork.

Grocery food prices barely changed, falling 0.1 percent. Lower prices for confectionery, nuts, and snacks (down 1.4 percent) were offset by price rises for milk, cheese, and eggs (up 1.7 percent) – including fresh milk (up 1.3 percent), which reached its highest-ever level in May 2014.

Annual change in prices

In the year to May 2014, food prices increased 1.8 percent, reflecting higher prices for all five subgroups. This is the third consecutive month that all five subgroups have shown an annual increase.

Prices increased for fruit and vegetables (up 5.6 percent), influenced by higher tomato, lettuce, and apple prices.

There were also higher prices for restaurant meals and ready-to-eat food (up 2.1 percent) and non-alcoholic beverages (up 2.7 percent) in the year.

Prices for grocery food were up 0.9 percent, reflecting increased prices for dairy products. Fresh milk (up 11 percent), cheese (up 8.1 percent), and butter (up 7.6 percent) prices all increased for the year.

There were lower prices for confectionery, nuts, and snacks (down 4.0 percent, influenced by lower chocolate prices) and bread and cereals (down 1.2 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: May 2014

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news