Thursday 13th September 2018
|Text too small?|
New Zealand's food prices fell in August as good growing conditions brought down the price of broccoli.
Statistics New Zealand said food prices dropped 0.5 percent in August, and were down 0.8 percent after seasonal adjustment. The average price of a 350g head of broccoli was $2.09 in August 2018, down 77 cents from July. It is also about one-third cheaper than a year ago when prices reached $3.09 per head in August 2017.
“Broccoli is grown all year round, but is typically cheapest in December, at about $1.50 a head,” Stats NZ prices manager Geraldine Duoba said. “The cool weather this winter provided ideal growing conditions for broccoli.”
Fruit and vegetable prices fell 2.1 percent in the month, influenced by lower prices for lettuce, broccoli, and cucumber. Grocery food prices, however, rose 0.5 percent, influenced by higher prices for snack foods, butter, and eggs.
Food prices decreased 0.1 percent in the year to August. Fruit and vegetable prices fell 6.5 percent, reflecting lower broccoli, potato, and cucumber prices. This fall more than offset a 2.9 percent increase in restaurant meals and ready-to-eat food prices, which have shown higher than average inflation after the minimum wage increase in April this year.
“Fruit and vegetable prices rose strongly last year due to wet weather, peaking in August 2017,” Duoba said. “This month prices are closer to those experienced two years ago, in August 2016.”
No comments yet
Not much joy in Fellet's Sky TV swansong
Ebos says underlying net profit boosted by animal care segment
KiwiRail operating earnings start to improve as Picton-Christchurch rail link reopens
Spark 1H profit dips 5.6% as Southern Cross withholds dividend
Power panel favours scrapping low-fixed charges, prompt payment discounts
February 20th Morning Report
FIRST CUT: Fletcher betters first-half guidance with 8% ebit drop
Meridian posts record 1H operating earnings, raises dividend
FIRST CUT: A2 more than doubles 1H net profit
NZD lifts as US-China return to negotiating table, US seeking stable yuan