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Food prices up 0.3% in March

Wednesday 13th April 2011

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Food prices rose 0.3% in March and are up 5.5% from a year earlier, Statistics New Zealand (SNZ) says.

Meat, poultry and fish prices were 1.5% higher in March than in February, grocery food prices were up 0.4%, non-alcoholic beverages up 1.1%, and restaurant meals and ready-to-eat food prices up 0.2%. Fruit and vegetable prices fell 1.6%.

Among individual items, bread was up 4.6%, tomatoes up 26.6%, cakes and biscuits up 4.3%, and beef up 3.8%. Apples were down 25.4%, potatoes down 10.8%, and grapes down 29.8%.

The 5.5% annual increase was the largest since the year to July 2009, and included a 2.2% rise in food prices in October when GST was increased.

Food prices were now 5.9% higher than two years ago and 14.9% higher than three years ago, SNZ said.

Grocery food prices rose 5.5% over the past year, while fruit and vegetable prices were up 10.4%, restaurant meals and ready-to-eat food was up 4.2%, meat, poultry and fish gained 3.7%, and non-alcoholic beverages lifted 5.3%.

Fresh milk prices lifted 9.3% over the year, lettuce gained 65.3%, soft drinks were up 6.3% and potatoes gained 29.6%. Bacon fell 4.4%.



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