Food costs rise in August, led by fruit and vegetables

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 in August, led by an increase in fruit and vegetables and non-alcoholic beverages.

The food price index rose 0.1% in August, for the fourth straight monthly gain, Statistics New Zealand says. Prices are down 0.5% from the same month last year.

Fruit and vegetables rose 1.5%, leading last month's increase, with tomatoes soaring 31%. Non-alcoholic beverages climbed 1.3%, reflecting higher prices for fruit juices and soft drinks.

Restaurant meals and ready-to-eat food prices fell 0.1% and grocery food prices shed 0.7%, the fifth fall in six months. Meat, poultry and fish prices showed no change.

August's annual decline reflects "cheaper vegetables, dairy products and lamb", prices manager Chris Pike says. Annual food prices have fallen for four months in a row, which has not happened since 2010.

On an annual basis grocery prices have fallen 2.1%, while meat, poultry and fish are down 0.7%, led by a 19% decline in lamb prices from their peak in August 2011.

Restaurant meals and ready-to-eat food are up 1.3%.


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 0.7680 0.0000 0.00%
AUD 0.9866 0.0000 0.00%
EUR 0.7101 0.0000 0.00%
GBP 0.5130 0.0000 0.00%
HKD 5.9663 0.0000 0.00%
JPY 91.3140 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1202.7 5.690 2015-04-17T00:
Oil Brent 63.5 1.740 2015-04-17T00:
Oil Nymex 55.7 -1.000 2015-04-17T00:
Silver Index 16.2 -0.050 2015-04-17T00:

Indices

Symbol Open High Last %
NZX 50 5881.8 5884.7 5881.8 -0.34%
NASDAQ 4966.1 4974.1 5007.8 -1.52%
DAX 11942.4 12019.8 11998.9 -2.58%
DJI 18102.6 18102.6 18105.8 -1.54%
FTSE 7060.4 7093.5 7060.4 -0.93%
HKSE 27808.2 27969.4 27739.7 -0.31%
NI225 19810.4 19815.2 19885.8 -1.17%