Meat Prices Move Food Price Index Up

10 August 2005

Food Price Index: July 2005

Meat Prices Move Food Price Index Up

Food prices increased 0.4 percent in July 2005, Statistics New Zealand said today. Prices increased for meat, fish and poultry; grocery food, soft drinks and confectionery; and restaurant meals and ready-to-eat food. Prices decreased for fruit and vegetables.

Meat, fish and poultry prices increased 2.4 percent in July 2005, strongly influenced by price increases for beef steak (up 9.5 percent) and bacon (up 4.6 percent). Grocery food, soft drinks and confectionery prices increased 0.3 percent in July 2005, along with restaurant meals and ready-to-eat food, which were up 0.2 percent.

Within grocery food, soft drinks and confectionery, the most significant upward contributions came from soft drinks (up 3.4 percent) and biscuits (up 4.1 percent). These increases were partly offset by lower prices for chocolate confectionery (down 4.3 percent).

Fruit and vegetable prices were down 2.2 percent, with lower prices recorded for potatoes (down 14.1 percent) and bananas (down 7.9 percent). From July 2004 to July 2005, food prices increased 2.1 percent. Price increases were recorded for grocery food, soft drinks and confectionery (up 2.1 percent); meat, fish and poultry (up 4.6 percent); and restaurant meals and ready-to-eat food (up 2.4 percent). Prices for fruit and vegetables decreased 1.6 percent.

Brian Pink

Government Statistician

ENDS

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