Sharechat Logo

NZ food prices fall 1 percent in October as tomatoes lead slide in fruit and vegetables

Wednesday 13th November 2013

Text too small?

New Zealand food prices fell in October from September as the price of tomatoes tumbled, leading a seasonal decline in fruit and vegetables.

Food prices declined 1 percent in October from the previous month to be up 0.8 percent from a year earlier, according to Statistics New Zealand.

Tomatoes fell to an average $7.11 a kilogram last month from $11.39/kg in September, contributing to an 8.8 percent decline in fruit and vegetables, the government statistician said. Grocery prices declined 0.3 percent, reflecting discounting of sauces, cakes and biscuits, it said.

Declining foods more than made up for a 2 percent increase in the prices of meat, poultry and fish. That was driven mainly by the price of lamb, which rose 15 percent to the highest since December 2011. Chicken rose 4.9 percent and beef was up 1.4 percent.

Non-alcoholic drinks declined 0.2 percent and restaurant and ready-to-eat food prices gained 0.2 percent.

The annual increase in food prices was driven by a 1.2 percent gain in grocery prices, especially fresh milk, up 7 percent, and yoghurt, which gained 8.1 percent. Meat, poultry and fish prices were up 2.3 percent on the year, non-alcoholic drinks rose 1.2 percent and restaurant and take-out meals rose 1.9 percent.

Fruit and vegetable prices fell 3.7 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:

MARKET CLOSE: Blue-chip stocks Meridian, A2 lead market lower
NZ dollar rises on Brexit hopes, rate cut reassessment
Three not failing, just needs a new owner - MediaWorks CEO
Major investors back new CBL class action targeting directors
Rip Curl purchase a done deal on Kathmandu proxies alone
Comvita chair Neil Craig eyes the exit once he finds a new CEO
Mercury raises guidance on increased storage, high spot prices
Eroad reports strong 3Q sales growth, eyes ASX listing
MediaWorks puts TV business on the block
NZ dollar benefits as preliminary Brexit deal improves risk appetite

IRG See IRG research reports