Food prices rise 0.2% in July, led by kumara spike

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

BUSINESSDESK: New Zealand food prices rose last month, led by a spike in the price of kumara, while prices fell for the year, led by cheaper vegetables, dairy and lamb products.

The food price index rose 0.2%, in its third monthly increase this year, Statistics New Zealand said. Prices fell 1.8% compared to the same period a year earlier.

July's rise was led by a 4.4% hike in fruit and vegetables. That was led by an 84% increase in kumara prices to their highest level since February 2008, influenced by low prices in July 2011 and poor weather conditions for both planting and harvesting affecting this year's crop.

Non-alcoholic beverages also rose 0.1%, while restaurant meals and ready-to-go meals fell 0.1%, along with meat, poultry and fish prices down 0.2% and grocery food prices down 0.6%.

July's annual decline was led by a 6.6% decrease in fruit and vegetables, a 1.7% drop in grocery prices and a 1.6% decline in meat, fish and poultry products. Non-alcoholic drinks slipped 2.1%.

Restaurant meals and ready-to-go foods bucked the trend, rising 1.4% in the past year.
 


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6355 -0.0031 -0.49%
AUD 0.9124 0.0022 0.24%
EUR 0.5707 -0.0037 -0.64%
GBP 0.4173 -0.0014 -0.33%
HKD 4.9262 -0.0245 -0.49%
JPY 75.7430 -0.9570 -1.25%

Commods

Commodity Price Change Time
Gold Index 1124.0 -9.100 2015-09-03T00:
Oil Brent 51.5 0.240 2015-09-03T00:
Oil Nymex 47.3 0.460 2015-09-03T00:
Silver Index 14.7 0.040 2015-09-03T00:

Indices

Symbol Open High Last %
NZX 50 5569.7 5573.0 5569.7 -0.41%
NASDAQ 4763.1 4800.2 4750.0 -0.35%
DAX 10161.4 10380.4 10048.0 2.68%
DJI 16364.3 16550.1 16351.4 0.14%
FTSE 6083.3 6215.7 6083.3 1.82%
HKSE 21101.4 21288.5 21531.2 -2.77%
NI225 18359.5 18481.6 18095.4 1.42%