Monthly food prices fall

Monthly food prices fall

11 March 2016

Food prices fell 0.6 percent in February 2016, Statistics New Zealand said today. This was influenced by falls across a range of foods, and led by seasonally lower fruit and vegetable prices. After adjusting for seasonal effects, food prices rose 0.2 percent.

Vegetable prices fell 2.7 percent, led by lower prices for tomatoes, onions, and celery. After seasonal adjustment, vegetable prices fell 1.2 percent. Fruit prices fell 2.5 percent, with lower prices for apples and grapes – after seasonal adjustment fruit prices showed a rise of 1.3 percent.

Grocery food prices fell 0.3 percent, influenced by snack foods (down 4.8 percent), cheese (down 3.9 percent), and chocolate (down 3.1 percent). “The average price of a 150 gram bag of potato chips was $1.69, down 3.4 percent from January. Potato chip prices are at their lowest level since July 2010,” consumer prices manager Matt Haigh said.

Meat, poultry, and fish prices fell 0.5 percent, driven by lower prices for chicken and processed meats. These were slightly offset by record-high prices for beef – the average price for a kilo of porterhouse steak was $29.37.

Food prices remain lower than a year ago

Food prices were 0.5 percent lower than in February 2015. This was influenced by a 1.9 percent decrease in grocery food prices, driven by lower prices for fresh milk (down 8.8 percent), breakfast cereals (down 8.8 percent), and snack foods (down 5.7 percent).

Fruit and vegetable prices decreased 1.4 percent, mainly due to a 5.3 percent decrease in vegetable prices. This was partially offset by a 3.3 percent increase in fruit prices.

Non-alcoholic beverage prices were 1.5 percent lower than a year ago, mainly influenced by lower prices for coffee and energy drinks. The average price for 100 grams of instant coffee decreased 9.1 percent to $5.71, compared with $6.28 in February 2015.

For more information about these statistics:
• Visit Food Price Index: February 2016

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