Largest annual fall in food prices since 2012

Largest annual fall in food prices since 2012

15 January 2016

In the year to December 2015 food prices decreased 1.3 percent, influenced by lower prices for grocery foods, Statistics New Zealand said today. This is the largest annual fall since July 2012.

Grocery food prices decreased 3.0 percent over the year, led by lower prices for some dairy products, and for breads and cereals. Fresh milk prices were down 14 percent compared with the same period last year.

Meat, poultry, and fish prices decreased 3.8 percent over the year, led by lower prices for chicken. Chicken prices are now at their lowest level since January 2008.

“Chicken prices have fallen during the year, with the price for a kilo of chicken breast averaging $14.62 in December, compared with $16.60 a year ago,” consumer prices manager Matt Haigh said.

Fruit and vegetable prices increased 2.4 percent, with higher prices for avocados and bananas.

Meat, poultry, and fish prices fall in December month

In December food prices fell 0.8 percent, influenced by lower prices for meat, poultry, and fish; and non-alcoholic beverages. Seasonally adjusted food prices fell 0.5 percent.

Meat, poultry, and fish prices fell 2.7 percent in the month, reflecting lower prices for chicken (down 6.2 percent). Non-alcoholic beverage prices were down 3.4 percent, influenced by lower prices for energy drinks, soft drinks, and coffee.

"Prices rose for apples, avocados, and bananas in December," Mr Haigh said. “Fruit prices were up 5.1 percent, although this rise was only 1.5 percent after adjusting for seasonal effects.”

For more information about these statistics:

• Visit Food Price Index: December 2015

ends

FoodPriceIndexDec15.pdf
fpidec15tables.xls

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