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

 


Food prices up 1.4 percent in June

Food prices up 1.4 percent in June


11 July 2014


Food prices rose 1.4 percent in June 2014, Statistics New Zealand said today. This rise followed 0.6 percent rises in both May and April.

“Food prices in June were influenced by seasonally higher prices for fresh vegetables and higher meat prices,” prices manager Chris Pike said.

Vegetable prices rose 8.9 percent, while fruit prices fell 0.5 percent. Higher prices were recorded for tomato, lettuce, and cucumber. The average tomato price of $9.25 per kilo in June 2014, compares with $8.97 in June 2013 and $10.17 in June 2012. Prices for mandarins, oranges, and bananas fell in June. Banana prices fell to an average of $2.24 per kilo – their lowest level since August 2011.

Prices for meat, poultry, and fish rose 3.6 percent, the largest monthly rise since July 2011. This reflects higher prices for chicken (up 9.9 percent) and beef (up 5.0 percent), both influenced by less discounting.

Grocery food prices rose 0.5 percent, influenced by higher prices for dairy products. Prices rose for butter (up 7.7 percent), yoghurt (up 3.6 percent), cheese (up 0.8 percent), and fresh milk (up 0.2 percent). Fresh milk prices are now at their highest level. These rises were partly offset by a fall in prices for bread and cereals (down 0.3 percent), influenced by lower prices for bread, and for cakes and biscuits.

Annual change in prices

In the year to June 2014, food prices increased 1.2 percent. Food prices are now at their highest level since they peaked in July 2011.

Prices increased for grocery food (up 1.3 percent), influenced by higher prices for dairy products. Prices for fresh milk (up 11 percent), cheese (up 12 percent), yoghurt (up 7.2 percent), and butter (up 12 percent) increased in the year. The average retail price for the cheapest available 2-litre blue-top milk was $3.62 in June 2014, compared with $3.19 in June 2013.

Meat, poultry, and fish prices increased 2.8 percent in the year, and are now at their highest level, reflecting higher prices for beef (up 6.9 percent), lamb (20 percent), and chicken (up 2.4 percent). Beef prices are at their highest level, 3.1 percent higher than their previous peak in April 2014. Lamb prices are now 14 percent below their peak in August 2011.

In the year, fruit and vegetable prices decreased 2.3 percent, reflecting lower prices for both fruit (down 5.1 percent) and vegetables (0.3 percent). Lower prices were recorded for avocados, bananas, capsicum, and kumara.

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.

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Lower Levy For Safer Cars: ACC Backtracks On Safety Assessments

Dog and Lemon: “The ACC has based the entire levy system on a set of badly flawed data from Monash University. This Monash data is riddled with errors and false assumptions; that’s the real reason for the multiple mistakes in setting ACC levies.” More>>

ALSO:

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Floods: Initial Assessment Of Economic Impact

Authorities around the region have compiled an initial impact assessment for the Ministry of Civil Defence, putting the estimated cost of flood recovery at around $120 million... this early estimate includes social, built, and economic costs to business, but doesn’t include costs to the rural sector. More>>

ALSO:

Food: Govt Obesity Plan - No Tax Or Legislation

Speaking to Q+A’s Corin Dann this morning, health minister Jonathan Coleman said tackling obesity was at the top of the Government’s priority list, but there was “no evidence” a sugar tax worked, and further regulation was unnecessary. More>>

ALSO:

Treasury Docs On LVR Policy: Government Inaction Leads To Blurring Of Roles

The Treasury wouldn’t have had to warn the Reserve Bank to stick to its core functions if the Government had taken prompt and substantial measures to rein in skyrocketing Auckland house prices, Labour’s Finance spokesperson Grant Robertson says. More>>

ALSO:

Final EPA Decision: Tough Bar Set For Ruataniwha Dam

Today’s final decision by the Tukituki Catchment Board of Inquiry is good news for the river and the environment, says Labour’s Water spokesperson Meka Whaitiri. “Setting a strict level of dissolved nitrogen in the catchment’s waters will ensure that the dam has far less of an impact on the Tukituki river." More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news