Food price rise hits 11-year high

By Phil Boeyen, ShareChat Business News Editor

Thursday 13th September 2001

Food prices for the year ending August have risen by 6.3% - the highest annual rise since June 1990.

Statistics New Zealand says the cost of fruit and vegetables recorded the biggest rise in the year, up 12.5%, followed by meat, fish and poultry which rose 11.9%.

Grocery food, soft drinks and confectionery prices rose 4.2% in the year to August, and restaurant meals and ready-to-eat food prices rose 3.7% over the same period.

During August food prices were 0.5% higher than the previous month, following an increase of 0.3% in July.

The latest increase was mainly due to higher prices for meat, fish and poultry, and for fruit and vegetables. The rises were partially offset by a small fall in grocery food prices.

The most significant item contributions to the August increase came from potatoes, up 15.9% from July, and oranges, up 12.9%.

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