Food Prices Fall 0.4 Percent

Food Prices Fall 0.4 Percent

Food prices fell 0.4 percent in November 2002, according to latest figures released by Statistics New Zealand. Price decreases were recorded for fresh fruit and vegetables; and meat, fish and poultry. Partly offsetting these falls were higher prices for grocery food; and restaurant meals and ready-to-eat food.

Fruit and vegetable prices fell 3.2 percent in November 2002, following a decrease of 0.2 percent in October. The decrease in November was driven by lower fresh vegetable prices. After adjusting for normal seasonal change, significant downward contributions came from lower prices for tomatoes (down 31.9 percent), broccoli (down 38.9 percent) and lettuces (down 28.7 percent).

Meat, fish and poultry prices fell 1.4 percent in November 2002, following a 2.0 percent increase in October. The most significant downward contribution to the decrease this month came from lower prices for beef (down 2.2 percent). This follows an increase of 0.5 percent in October. The next most significant downward contribution came from lower pork prices (down 5.8 percent).

Grocery food, soft drinks and confectionery prices rose by 0.3 percent in November 2002. The most significant upward contribution to this increase came from cereals and cereal products (up 1.5 percent), and was largely due to price rises for biscuits, bread and flour.

Restaurant meals and ready-to-eat food prices increased 0.3 percent in November 2002. This follows an increase of 0.5 percent in October 2002. The increase in November was largely due to higher prices for ready-to-eat food (up 0.4 percent). Restaurant meal prices rose 0.2 percent.

From November 2001 to November 2002, food prices rose 1.2 percent. Restaurant meals and ready-to-eat food prices made the most significant contribution, rising 3.2 percent in the year to November 2002. This was followed by grocery food, soft drinks and confectionery prices (up 1.3 percent) and fruit and vegetable prices (up 2.8 percent). Meat, fish and poultry prices fell 2.6 percent in the year to November 2002.

Brian Pink

Government Statistician

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