Tomatoes and potatoes lead food price fall in May

Tomatoes and potatoes lead food price fall in May – Media release

14 June 2016

Food prices fell 0.5 percent in May 2016, following a 0.3 percent rise in April, Statistics New Zealand said today. The fall was mainly influenced by lower fruit and vegetable prices (down 3.7 percent after seasonal adjustment). Seasonally adjusted food prices fell 0.5 percent in May 2016.

“Tomatoes and potatoes influenced the drop in vege prices,” consumer prices manager Matt Haigh said. “The average price for a kilo of tomatoes fell to $6.00 in May compared with $6.70 in April.”

Meat poultry and fish prices rose 0.2 percent, with higher prices for lamb (up 5.0 percent). The average price for a kilo of lamb chops was $14.28, up 8.0 percent from April 2016.

Non-alcoholic beverage prices fell 1.2 percent for the month, while restaurant meals and ready-to-eat food rose 0.1 percent. Grocery prices showed no overall change in May.

Record avocado prices influence higher fruit prices

Fruit prices increased 17 percent in the year to May 2016, the largest annual increase since May 2009. The increase was influenced by higher prices for avocado and bananas. Avocado prices are now at their highest level, with the average price of a 200g avocado now $4.48, compared with $1.64 in May 2015.

Vegetable prices decreased 1.7 percent, influenced by lower prices for kumara. The average price for a kilo of kumara was $3.46 in May 2016, compared with $5.01 in May 2015.

Food prices decreased 0.3 percent in the year to May 2016, influenced by lower grocery food prices (down 1.8 percent) and meat, poultry, and fish (down 3.5 percent).

http://img.scoop.co.nz/media/pdfs/1606/fpimay16tables.xls

http://img.scoop.co.nz/media/pdfs/1606/FoodPriceIndexMay16.pdf

ENDS

© Scoop Media