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

 

ICT Innovation: Six NZ Finalists In World Summit Awards

The awards are a global showcase of 40 projects, across eight categories, with a special emphasis on those which show the benefits of information and communication technology for the development of communities. New Zealand has finalists in six of the eight categories. More>>

ALSO:

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news