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

 

Potato Prices Reach All-time High In April

Rising prices for potatoes, soft drinks (large bottles), capsicums, and fresh eggs saw overall food prices up 1.0 percent in April 2020, Stats NZ said today.

Potato prices rose 18 percent in April to a weighted average price of $2.51 per kilo, an all-time peak.

Some media reports suggest the potato industry has seen a 30–50 percent increase in demand from supermarkets and a shortage of workers.

“Higher demand and a shortage of potato pickers, many of whom stayed home due to fear of the COVID-19 virus, could explain this large price increase,” consumer prices manager Bryan Downes said.

Prices for fresh eggs (caged and barn) rose almost 7 percent to a record weighted average price of $4.78 per dozen. A decade ago a single egg cost 28 cents, and in April this year it reached 40 cents an egg.

Free-range egg prices also rose, by 1.2 percent to a weighted average price of $5.16 per half-dozen.

“Fresh egg prices have been on a gradual rise for the last two years as more New Zealand farmers shift from caged eggs to barned and free-range eggs,” Mr Downes said.

Eggs are an important item on most consumers’ shopping list. Figures show that spending on eggs for all New Zealand households in the year ended June 2019 was over $4,072,000 a week, an average of $2.30 per household.

Detailed household expenditure, year ended June 2019 has more information on household spending.

Food prices up in year to April

Food prices increased 4.4 percent to the year ended April 2020, the largest annual movement in over eight years. This rise was influenced by higher prices for grocery food (up 4.2 percent), meat, poultry, and fish (up 6.2 percent), and non-alcoholic beverages (up 4.7 percent).

Key movers for grocery food include:
 

  • cheddar cheese, up 17 percent
  • white bread, up 24 percent
  • Camembert cheese, up 15 percent
  • sweets, up 12 percent
  • biscuits, cracker style, up 9 percent.

Potato prices increased 38 percent in the year, the largest contributor to the annual rise in food prices.

“Potato prices tend to only peak once in a year, around December or January, but this year we’ve seen a second growth in April,” Mr Downes said.

Prices also increased for soft drinks (large bottles), and beef porterhouse/sirloin steak. These were partly offset by lower prices for avocados, tomatoes, and lamb leg.

See

Impacts of the COVID-19 lockdown on methodology for food price index April 2020

for information about changes to data collection and how missing items were substituted with other values.

The Government Statistician authorises all statistics and data we publish.

For more information about these statistics:

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Mining: OceanaGold Announces Receipt Of WKP Mining Permit

MELBOURNE, Australia, Aug. 6, 2020 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the 'Company') is pleased to announce it has received the mining permit for Wharekirauponga ('WKP') on the North Island of New Zealand. ... More>>

ALSO:

Economy: COVID-19 Lockdown Has Widespread Effects On Labour Market

In the June 2020 quarter, the seasonally adjusted unemployment rate fell to 4.0 percent, down from 4.2 percent last quarter, while underutilisation rose, Stats NZ said today. More>>

ALSO:

NZ Post: New Research By NZ Post Shows Online Shopping Grew 105% In Alert Level 3

New research by NZ Post into how the COVID-19 response has impacted the way Kiwis shop online, shows online shopping increased 105%* when the country moved into Alert Level 3, and may have changed the way Kiwis shop permanently. Online spend peaked ... More>>

ALSO:

Banking: Westpac NZ Lowers Merchant Fees For Small Businesses

Westpac NZ is rolling out a new merchant fee pricing structure that will lead to cost savings for more than 10,000 small and medium Kiwi businesses, and could make contactless transactions more widely available for customers. On 1 September, most ... More>>

REINZ: Million Dollar Plus Property Sales Increase 11.7% Nationally

The number of properties sold around the country for one million dollars or more during the first half (H1) of 2020 increased by 11.7% compared to H1 2019, with 5,426 million-dollar plus properties sold (up from 4,858 in H1 2019) according to the Real ... More>>

Waste: Government To Regulate Plastic Packaging, Tyres, E-Waste

The Government is stepping up action to deal with environmentally harmful products – including plastic packaging, tyres and e-waste – before they become waste. As part of the wider plan to reduce the amount of rubbish ending up in landfills, ... More>>

ALSO:


Antarctica NZ: Ice-Olation

Antarctica New Zealand is gearing up for a much reduced season on the ice this year and a very different deployment to normal! Before they head to one of the remotest places on the planet, all personnel flying south with the New Zealand programme will ... More>>

ALSO:

QV Valuations: July House Price Index Illustrates Market Resilience

According to the July 2020 QV House Price Index (HPI) results out today , property values recorded a marginal increase, up 0.2% over the month. This is somewhat of a turnaround from June, after the national index edged 0.2% lower. More>>

ALSO:

Property: Queenstown Rents Experience Biggest Drop In Seven Years

Rental prices in the Queenstown-Lakes district saw the biggest annual percentage drop in seven years after falling 28 per cent on June last year, according to the latest Trade Me Rental Price Index. Trade Me Property spokesperson Aaron Clancy said ... More>>

Seismology: The Quiet Earth

As many daily activities came to a halt during lockdown, the Earth itself became quiet, probably quieter than it has been since humans developed the technology to listen in. Seismologists have analysed datasets from more than 300 international ... More>>

RNZ: James Shaw Says Kiwibank, Not Ministers Should Decide On Investors

Climate Change Minister James Shaw says Kiwibank's decision to stop doing business with companies dealing in fossil fuels is the right one. More>>

ALSO:

FMA: Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments

Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually ... More>>

FIRST Union: Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off

(FIRST Union comments on The Warehouse consultation and proposed restructure) 'Unfortunately the Warehouse have done the disappointing thing and used Covid-19 to justify a bunch of operational business decisions that will leave hundreds of workers without jobs ... More>>

ALSO: