Food Prices Fall 0.4 Percent

Food Prices Fall 0.4 Percent

Food prices fell 0.4 percent in April 2003, according to latest figures released by Statistics New Zealand. Price decreases were recorded for grocery food; and meat, fish and poultry. Partly offsetting these falls were higher prices for fruit and vegetables. Restaurant meals and ready-to-eat food prices recorded no overall change.

Grocery food, soft drinks and confectionery prices fell 1.0 percent in April 2003. The most significant downward contribution came from lower prices for sweets, crisps and nuts (down 4.2 percent). This was mainly driven by lower prices for potato crisps (down 7.0 percent) and chocolate confectionery (down 4.7 percent).

Meat, fish and poultry prices recorded a fall of 0.4 percent in April 2003. The most significant downward contribution came from lower pork prices (down 5.9 percent). Smaller downward contributions came from smallgoods and prepared meats (down 0.9 percent) and lamb (down 1.5 percent). These were partly offset by higher prices for poultry (up 1.7 percent).

Restaurant meals and ready-to-eat food prices recorded no overall change in April 2003.

Fruit and vegetable prices rose 1.4 percent in April 2003, driven by higher prices for fresh vegetables (up 2.5 percent). After adjusting for normal seasonal change, fruit and vegetable items that made the most significant upward contributions were lettuces (up 29.3 percent) and apples (up 11.2 percent). Bananas made the most significant downward contribution to fruit and vegetable prices in April 2003, falling by 8.4 percent.

Food prices fell 0.7 percent from April 2002 to April 2003. Meat, fish and poultry prices made the most significant downward contribution, falling 5.7 percent. This was followed by grocery foods, soft drinks and confectionery prices (down 0.5 percent). Partly offsetting these falls were increases in restaurant meals and ready-to-eat food prices (up 2.0 percent) and fruit and vegetable prices (up 1.5 percent).

Brian Pink

Government Statistician

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