Food more expensive

By Phil Boeyen, ShareChat Business News Editor

Tuesday 13th March 2001

New Zealand food prices have risen for the ninth period in a row, jumping 5.7% in February compared with the same month last year.

The increase is the biggest since July 1990 when a 6% increase was recorded. Between January and February this year prices rose half a percent.

Statistics New Zealand says a 4% price hike for fruit and vegetables accounted for most of the increase, mainly from increased fresh fruit prices. Meat, fish and poultry was next highest, rising 0.7% compared with February last year.

Meanwhile another survey shows supermarket revenues hit an all time high over the Christmas period, up 5% or $27.6 million on the previous year.

ACNielsen says beer was the star performer for supermarkets, making up a quarter of increased sales. Wine sales accounted for another 12% of the increase

The company says having a full weekend to shop before Christmas Day helped to push sales. Other factors were high temperatures, an economic outlook at a two-year high and the increasing food price index.

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