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
- NZ could reap $190M/year benefit becoming first nation to allow beyond-line-of-sight drones
- 'Some hassle' to NZ business following GCSB spying
- Fliway seizes chance to spread its wings
- Government convention centre spin – you be the judge
- Blue Chip's Bryers banned from managing NZ firms for 7 more years, bankruptcy lifted