Food costs rise in August, led by fruit and vegetables

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 My Tags

Comment & Question

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 0.7740 -0.0003 -0.04%
AUD 0.9511 0.0005 0.05%
EUR 0.6324 -0.0002 -0.03%
GBP 0.4954 0.0001 0.02%
HKD 6.0039 0.0001 0.00%
JPY 92.5100 -0.0050 -0.01%

Commods

Commodity Price Change Time
Gold Index 1195.4 -2.890 2014-12-19T00:
Oil Brent 61.4 1.580 2014-12-19T00:
Oil Nymex 57.1 2.910 2014-12-19T00:
Silver Index 16.0 0.096 2014-12-19T00:

Indices

Symbol Open High Last %
NZX 50 5518.5 5545.0 5539.3 -0.21%
NASDAQ 4752.6 4782.1 4748.4 0.36%
DAX 9901.3 9901.3 9811.1 -0.25%
DJI 17778.0 17874.0 17778.2 0.15%
FTSE 6466.0 6566.9 6466.0 1.23%
HKSE 23158.3 23189.6 22832.2 1.25%
NI225 17511.0 17621.4 17210.0 2.39%