Food prices drop in April, led by soft drinks and groceries

Friday 11th May 2012

New Zealand food prices continued to fall in April as consumers paid less for soft drinks and supermarket shopping. The food price index fell 0.1 percent last month, according to Statistics New Zealand.

The index showed no overall change when compared to a year earlier. The decline was led by a 2.6 percent decrease in non-alcoholic beverages from a month earlier and a 0.7 percent fall in grocery prices, with cheaper prices recorded for potato crisps, crackers, yoghurt, sweets and soup.

The cost of restaurant meals and ready-to-eat food slipped just 0.1 percent. The index also recorded a 7.3 percent decrease in the price of packaged coffee, an 8.1 percent fall in takeaway pizza, and minced beef declined 7.2 percent.

Higher prices were recorded in two of the main sub-groups, with a 2.8 percent increase in the price of fruit and vegetables and a 0.7 rise in meat, poultry and fish. Unseasonal vegetables stood out as price gainers, with lettuce up 40 percent, followed by tomatoes, up 26 percent.

BusinessDesk.co.nz

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