Food prices up

Assorted Fruits & Vegetables, foodIn the year to August 2015, food prices increased 0.4 per cent, Statistics New Zealand said today. This follows an increase of 1.2 per cent in the year to July.

“Fruit and vegetable prices increased 3.7 per cent over the year, with higher prices for avocados, bananas, potatoes, and lettuce,” consumer prices manager, Matt Haigh, said. Fruit prices increased 9.6 per cent in the year to August 2015, while vegetable prices increased 0.5 per cent. In August the average price of bananas was $3.02 per kilo, compared with $2.63 per kilo a year ago.

Restaurant meals and ready-to-eat food prices rose 1.9 per cent, while non-alcoholic beverage prices rose 0.9 percent. Meat, poultry, and fish prices remained unchanged overall, with increases for beef and pork offset by lower prices for chicken.

Lower prices for grocery food (down 1.8 per cent, to their lowest level in five years) were influenced by lower prices for fresh milk, cheese, and butter. Fresh milk prices are now at the lowest level since August 2013. Lower cheese prices, down 8.9 per cent, were influenced by more discounting.

Lower grocery prices push food prices down 0.5 per cent in August

Screen Shot 2015-09-11 at 10.52.51 AMIn the August month, food prices fell 0.5 per cent. This follows a 0.6 per cent rise in July and a 0.5 per cent rise in June.

Grocery food prices fell 1.8 per cent, with lower prices for cheese and for snack foods. Meat, poultry, and fish prices also fell 1.8 per cent, influenced by lower prices for chicken, processed meat, and beef.

These falls were partly offset by higher prices for fruit and vegetables, up 3.1 per cent. Vegetable prices rose 4.6 per cent in the month, influenced by higher prices for tomatoes. However, after adjusting for seasonal influences vegetable prices fell 0.4 per cent. Fruit prices rose 0.8 per cent, and rose 2.9 per cent after seasonal adjustment. This was influenced by higher prices for bananas.

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