Sharechat Logo

NZ food prices rise 0.2 percent in April as tomato prices soar 67 percent

Monday 13th May 2013

Text too small?

New Zealand food prices rose for the first time in three months, led by fruit and vegetables as tomato prices soared 67 percent.

Prices rose 0.2 percent in April from March, to be 0.1 percent lower than in the same month of 2012, according to Statistics New Zealand

Food prices make up about 19 percent of the consumer price index, which rose 0.4 percent in the first quarter, for a relatively tame annual gain of 0.9 percent. That's short of the Reserve Bank's target of 1 percent to 3 percent on average, over time.

The jump in prices of tomatoes made up for weaker prices of lettuce and broccoli, both down about 14 percent in the latest month, and a 24 percent decline for kiwifruit. Cabbage prices dropped 16 percent. Vegetable prices rose 2 percent compared with April 2012.

Prices for meat, poultry and fish were broadly unchanged in the month, to be 1.1 percent lower in the year.

Grocery food prices rose 0.2 percent in the month and fell 1.8 percent in the year, while non-alcoholic drinks rose 0.3 percent in April from March, gained 2.5 percent from April 2012.

Restaurant and takeaway food prices were unchanged in the latest month and rose 1.2 percent from a year earlier.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar rises as US-China trade, Brexit tensions ease
SkyCity shares hit 7-week low as fire encapsulates convention centre
Wrightson showcases Fruitfed Supplies as horticulture stands out
Fonterra rivals fear dairy giant will get leg up from law overhaul
Wellington Drive remains in the black as it raises operating forecast
OMV plans further maintenance at Pohokura
Sky continues sports drive with extension to netball rights
Apple's asset-shuffling puts $270m value on PowerbyProxi
Fonterra lifts payout forecast on improving global dairy prices
22nd October 2019 Morning Report

IRG See IRG research reports