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NZ food prices fall in June

Food prices in New Zealand fell 0.5 per cent in the year to June 2016, with the average prices of cheddar cheese down 9.5 per cent, according to the data from Statistics New Zealand.

Data shows the decrease in food prices were influenced by lower food prices, down 2.3 per cent, the agency said.

Compared with June 2015, cheese prices were down 9.5 per cent, fresh milk was down 3.9 per cent, and yoghurt was down 9.2 per cent.

“The average price of a kilo of cheddar cheese was $7.68 in June 2016, down from $9.12 in June 2015. This was the lowest price since September 2007,” said Matt Haigh, consumer prices manager.

Meat, poultry, and fish prices fell 0.9 per cent in the year. Lower prices for chicken (down 5.3 per cent), processed meat (down 2.9 per cent), and lamb (down 5.2 per cent) were partly offset by higher prices for beef (up 4.3 per cent).

The prices of fruit and vegetables saw an increase of 2.0 per cent over the year, with continued record high prices for avocados (up 146 per cent), partly offset by lower prices for tomatoes (down 20 per cent).

Restaurant meals and ready-to-eat food rose 1.6 per cent in the year to June 2016.

Seasonally adjusted, food prices fall in the month of June.

Grocery food prices fell 0.7 per cent, with lower prices for milk, cheese, and eggs. Meat poultry and fish prices fell 0.2 percent, with lower prices for lamb.

Food prices rose 0.4 per cent in June 2016, influenced by higher fruit and vegetable prices (up 4.2 per cent). However, after adjusting for seasonal effects, food prices fell 0.9 per cent.

Vegetable prices rose 8.4 percent in June, led by seasonally higher prices for cucumbers, capsicums, and lettuce. After seasonal adjustment vegetable prices fell 6.5 percent, with smaller price rises for tomatoes than usual for this time of year. Fruit prices fell 0.9 percent, with lower prices for mandarins.

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