Food prices rise 0.6pc in July, 3.3pc for year

By NZPA

Tuesday 13th August 2002

The Food Price Index rose 0.6 percent in July, giving a 3.3 percent rise for the July year, Statistics New Zealand said today.

The rise was twice as high as economists' forecasts for the month.

The July rise was driven by a 4.6 percent rise in fruit and vegetable prices. That rise follows a 1.2 percent fall in prices in June.

Adjusting for seasonal factors, tomatoes were up 54.8 percent and potatoes up 13 percent while avocados were down 33.6 percent.

Meat, fish and poultry prices rose 0.3 percent in July with poultry up 5.3 percent and lamb 1.0 percent.

Restaurant meals and ready-to-eat food prices rose 0.2 percent in July with most of the rise from ready-to-eat food.

Grocery food, soft drinks and confectionery prices were unchanged in July. Fruit juice prices rose 12.9 percent, offset by a fall in bread, down 1.9 percent, eggs, down 6.9 percent and chilled meat pies, down 10.4 percent.

Over the July year, grocery prices were up 3.2 percent and restaurant meals and ready-to-eat food was up 4.0 percent. Meat, fish and poultry prices rose 5.1 percent, while fruit and vegetable prices rose 0.7 percent.

Comments from our readers

No comments yet