Food prices rise at fastest annual rate since mid-2009

Thursday 12th May 2011

A 6.1% rise in food prices in the year to April was the biggest annual increase since July 2009, even though prices edged up just 0.1% last month.

For just the April month, grocery food prices rose 1%, non-alcoholic beverages were up 1.7%, fruit and vegetable prices dropped 3.3%, and meat, poultry and fish prices dropped 0.5%, Statistics New Zealand (SNZ) said today.

Soft drinks lifted 1.8% in the month, margarine gained 12.8%, bread added 2.1%, and sausages were up 5.2%.

Lettuce prices fell 15.8%, and kiwifruit was down 27.4%, while a 5.5% drop in porterhouse/sirloin beef steak and 13.5% fall in canned soup reflected a rise in the level of discounting, SNZ said.

The 6.1% annual rise included a 2.2% lift in food prices last October from the increase in GST.

Grocery food prices were up 5.8% over the year, fruit and vegetables lifted 8.7%, the meat, poultry and fish group lifted 6%, restaurant meals and ready-to-eat food lifted 4.6%, and non-alcoholic beverages rose 7.6%.

Fresh milk was up 9.3% over the year, soft drinks lifted 6.1%, potatoes rose 30.9%, lettuce was up 47.8%, and lamb chops added 23.3%. Bananas fell 6.2% and bacon dropped 4%.

NZPA

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