Meaty Increases Push Up Annual Food Prices
Higher prices
for meat, poultry, and fish contributed to a 3.5 percent
increase in food prices for the year ended January 2020, the
largest annual rise in food prices in over eight years,
Stats NZ said today. “Meat, poultry, and fish prices
have increased 6.0 percent in the year. Restaurant and
ready-to-eat meals increased 3.4 percent, while fruit and
vegetable prices were up 2.7 percent,” consumer prices
manager Sarah Johnson said. “Both beef mince and
blade steak prices reached all-time highs in January, while
bacon and lamb prices have increased sharply in the past 12
months. Decreased pork production in China during 2019 has
increased export demand for New Zealand meat products,
pushing prices up.” China overtakes the US as top beef
market has more on recent beef export
statistics. Significant meat price increases
include: Prices for fish and
other seafood also saw a modest increase, up 4.1 percent in
the year ended January. These increases were partly
offset by decreasing prices for iceberg lettuce (down 34
percent), onions (down 15 percent), and honey (down 21
percent). The overall annual increase in food prices
is the largest since September 2011, when prices increased
4.7 percent. “The previous high was influenced by a
rise in GST in October 2010,” Mrs Johnson
said. Seasonal fruit and vegetable
prices contribute to monthly
rise Higher prices for apples and
strawberries contributed to a 2.1 percent rise in food
prices for the January 2020 month. “Apple prices
generally peak in January. Between December 2019 and January
2020, apple prices rose 22 percent to a weighted average
price of $4.62 per kilogram,” Mrs Johnson said. In
January 2019, the weighted average price for apples was
$3.98 per kilogram. Strawberry prices were also up,
rising 68 percent in the month. Large bottled soft
drinks (up 8.8 percent), broccoli (up 58 percent), and
yoghurt (up 8.4 percent) also contributed to the
rise. “We often see food prices rise in January
following falls in December, as items go off Christmas
specials,” Mrs Johnson said. “Food prices rose 1.0
percent in January 2019, 1.2 percent in January 2018, and
2.8 percent in January 2017.” The rises in the
January 2020 month were partly offset by falls in prices of
nectarines (down 23 percent), tomatoes (down 9.4 percent),
and cabbages (down 19 percent). The Government
Statistician authorises all statistics and data we
publish. For more information about
these statistics:
“While prices for red and
processed meats have increased, prices for poultry have
remained relatively flat, decreasing 0.2 percent in the year
to January,” Mrs Johnson said.