Food prices down

groceriesIn the year to June, food prices decreased 0.1 per cent, Statistics New Zealand said today. This drop follows eight consecutive food price increases since the year to October 2014.

Grocery food prices decreased 2.1 per cent over the year, influenced by lower prices for fresh milk and bread. Prices for meat, poultry, and fish also decreased by 1.9 per cent from June 2014.

“The average price for two litres of blue-top milk was $3.36 in June, down 9.4 per cent from its peak in November 2014,” consumers price index delivery manager, Matt Haigh, said. “The price of fresh milk is the lowest it’s been since August 2013, when two litres of blue-top cost $3.17.”

Prices increased for: restaurant meals and ready-to-eat food by 1.9 per cent; non-alcoholic beverages by 4.1 per cent; and fruit by 5.3 per cent.

In June 2015, food prices rose 0.5 per cent. This follows a 0.4 per cent rise in May.

“Higher food prices in June were influenced by seasonally higher prices for fresh fruit and vegetables,” Haigh said. “However, food prices fell 0.8 per cent this month after adjusting for seasonal increases for items such as tomatoes and lettuce.”

The meat, poultry, and fish and grocery subgroups both fell this month, influenced by lower prices for chicken, down 7.1 per cent, and fresh milk, down 2.6 per cent. Chicken prices are at their lowest level since May 2014.

food price

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