Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Deutsche Bank - NZ Food Price Index - October 1999

Deutsche Bank - NZ Food Price Index - October 1999

Data Flash (New Zealand)
NZ Food Price Index - October 1999

Key Points

The food price index (FPI) comprises 18% of the CPI regimen and is very volatile on a monthly basis. The food price index fell 0.6% mom in October, following a 0.3% mom increase in September. Food prices are now 1.2% lower than they were in October 1998.

The most significant contribution to the decrease in the October index came from the fruit & vegetable subgroup (-4.6%). Other subgroups contributing to the decline included meat fish & poultry (- 0.4%) and grocery foods::::: (-0.1%). Food prices excluding the volatile fresh fruit and vegetable components were flat for the month (+0.5% yoy).

:::::::::::::::Food Price:::::::::::::Fruit &
::::::::::::::: Index::::::::::::::: Vegetable
::::::::::::::::::::::::::::::::::::::::Index
:::::::::: mom. %:::::ann. %::::: mom. %:::::ann. %

May-99::::: -0.4::::: 2.4::::: -1.3::::: 6.3

Jun-99::::: -0.7::::: 1.4::::: -6.3::::: 0.4

Jul-66::::: 0.5::::: 1.1::::: -1.8::::: -7.3 Aug-99::::: -0.6::::: -0.6::::: -3.0::::: -11.0

Sep-99::::: 0.3::::: -0.3::::: -1.4::::: -11.2

Oct-99::::: -0.6::::: -1.2::::: -6.6::::: -15.9

Source: DB Global Markets Research, Statistics NZ

Comment

The 0.6% mom decline in food prices in October was considerably below market expectations for a 0.4% mom increase. However, the movements in a number of food prices are very volatile on a monthly basis, largely reflecting the availability of fruit & vegetables and grocery items moving on and off "special". Despite the weaker than expected food price outturn for October, we expect CPI inflation to pick-up sharply over the December 1999 and March 2000 quarters. This spike in the CPI is projected to reflect the impact of recent petrol price increases and local authority rates, together with a rise in car prices on the back of a weaker cross rate against the Yen.:::::Our initial forecasts suggest a 1.0% qoq rise in CPI during the December quarter, taking the annual rate up to 2.3%, followed by a 0.6% increase in Q1/2000, which will take the annual increase to 2.7%.

ENDS

This, along with an extensive range of other publications, is available on our web site http://research.gm.db.com

In order to read our research you will require the Adobe Acrobat Reader which can be obtained from their website http://www.adobe.com for free.

For answers to your EMU questions, check Deutsche Bank's EMU web site http://www.db.com/emu or email our helpline business.emu@db.com.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

9.3 Percent: Gender Pay Gap Unchanged Since 2017

“While it has remained flat since 2017, the gender pay gap has been trending down since the series began in 1998, when it was 16.2 percent,” labour market statistics manager Scott Ussher said. More>>

ALSO:

Ex-KPEX: Stuff Pulls Pin On Media Companies' Joint Ad-Buying Business

A four-way automated advertising collaboration between the country's largest media companies is being wound up after one of the four - Australian-owned Stuff - pulled the pin on its involvement as part of a strategic review of its operations ... More>>

Bus-iness: Transdev To Acquire More Auckland And Wellington Operations

Transdev Australasia today announced that it has agreed terms to acquire two bus operations in Auckland and Wellington, reaching agreement with Souter Investments to purchase Howick and Eastern Buses and Mana Coach Services. More>>

ALSO:

Māui And Hector’s Dolphins: WWF/Industry Counter Offer On Threat Management Plan

Forest & Bird says WWF-NZ's plan for protecting Māui dolphins is based on testing unproven methods on a species that is almost extinct, and is urging the Government to reject the proposal. More>>

ALSO: