Trade Resources Industry Views Food Prices in New Zealand Were Down by 0.8% in September

Food Prices in New Zealand Were Down by 0.8% in September

Food prices in New Zealand were down by 0.8% in September, following the 0.3% gain in August, according to the latest report released by Statistics New Zealand.

During the period, fruit and vegetable prices fell 6.5%. Lower vegetable prices (down 11%) were the most significant contributor to the monthly fall in food prices, the bureau said, with price falls for lettuce, tomatoes, cucumber, and capsicums.

Prices manager Chris Pike said: "Lower food prices in September came from seasonally cheaper vegetables, partly countered by a rise in meat prices."

Grocery food prices fell 0.2%, with lower prices for butter and cheese. Prices for confectionery, nuts, and snacks (down 0.9%) also fell. For cakes and biscuits, prices were higher (up 4.4%).

Meat, poultry, and fish prices rose 1.2%, influenced by higher prices for processed meat, pork, lamb, and beef. Non-alcoholic beverage prices rose 0.6%, influenced by less discounting on soft drinks.

Year-on-year, food prices eased 0.1% after climbing 0.7% in the previous month.

In the year to September 2014, grocery food prices decreased 1.6%, influenced by lower bread prices (down 14%).

Supermarkets discounted some of their own-brand bread to about $1.00 in July and August. Confectionery, nuts, and snacks (down 2.1%) also influenced the decrease. Prices increased for some dairy products, including fresh milk and yoghurt.

Fruit and vegetable prices decreased 3.3%. Lower vegetable prices (down 5.7%) included decreases for tomatoes, kumara, and avocados.

Source: http://www.food-business-review.com/news/food-prices-in-new-zealand-down-in-september-statistics-new-zealand-131014-4402527
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Food Prices in New Zealand Down in September: Statistics New Zealand