Food Prices Unmoved Overall

Food Prices Unmoved Overall

Food prices recorded no overall change in June 2005, according to the latest figures released by Statistics New Zealand. Price decreases for meat, fish and poultry; and fruit and vegetables subgroups, were offset by price increases for restaurant meals and ready-to-eat food; and grocery food, soft drinks and confectionery subgroups.

Meat, fish and poultry prices decreased 0.8 percent, with lower prices recorded for steak (down 3.0 percent) and sausages (down 4.2 percent). Higher prices were recorded for beef mince (up 4.6 percent).

Fruit and vegetable prices fell 0.7 percent, strongly influenced by decreases in prices for fresh fruit (down 3.5 percent); with the most significant price decreases for tomatoes (down 12.2 percent) and citrus fruit (down 15.3 percent).

Prices increased for restaurant meals and ready-to-eat food (up 0.5 percent), and for grocery food, soft drinks and confectionery (up 0.2 percent). Within grocery food, soft drinks and confectionery, the most significant upward contributions came from fruit juice (up 13.9 percent) and breakfast cereals (up 5.8 percent). Lower prices were recorded for biscuits (down 5.0 percent) and instant coffee (down 7.5 percent).

From June 2004 to June 2005, food prices increased 1.5 percent overall. All subgroups recorded price increases: grocery food, soft drinks and confectionery (up 1.6 percent); restaurant meals and ready-to-eat food (up 2.3 percent); meat, fish and poultry (up 0.9 percent); and fruit and vegetables (up 0.5 percent).

Brian Pink

Government Statistician

END

© Scoop Media