Fresh milk prices fall in October

Fresh milk prices fall in October – Media release

12 November 2015

In October food prices fell 1.2 percent, Statistics New Zealand said today. This was influenced by lower prices for fresh milk, and seasonally lower prices for fruit and vegetables. Seasonally adjusted food prices fell 0.5 percent in October.

"Grocery food prices fell 0.8 percent in October, led by a 5.7 percent fall in fresh milk prices," consumer prices manager Matt Haigh said. "The average price for 2 litres of blue-top milk was $3.13 in October 2015, the cheapest since January 2008 when it was also $3.13."

Prices also fell for sauces and snack food in October, while prices for cakes and biscuits rose.

Meat, poultry, and fish prices fell 1.7 percent, reflecting lower prices for chicken and lamb. These lower prices were partly offset by higher prices for pork and beef.

Fruit and vegetable prices fell 5.2 percent in October, as seasonally lower prices for tomatoes, lettuce, and courgettes were partly offset by higher prices for potatoes. Vegetable prices fell 8.3 percent but were up 0.9 percent after seasonal adjustment.

Food prices decrease 0.5 percent in the year to October

Grocery food prices decreased 3.4 percent over the year, with lower prices for dairy products. "Fresh milk, cheese, butter, and yoghurt all had significant price falls," Mr Haigh said.

Meat, poultry, and fish prices decreased 2.1 percent, with decreases for chicken, lamb, and pork. Beef prices rose, however, and are now at their highest level.

Fruit and vegetable prices increased 3.1 percent over the year, led by higher prices for potatoes, avocados, cucumber, and cabbage. These increases were partly offset by lower tomato prices, which averaged $5.69 per kilo in October compared with $7.23 a year ago.

Ends

For more information about these statistics:
• Visit Food Price Index: October 2015
• Open the attached files
FoodPriceIndexOct15.pdf
fpioct15tables.xls

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