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: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news