Friday 11th March 2011 |
Text too small? |
Food prices rose just 0.1% in the February but are up 5.3% on a year earlier, Statistics New Zealand said today.
Most prices were collected before the Christchurch earthquake on February 22.
The rising cost of food has been an issue economists are monitoring as high commodity prices increase food prices. The flat result in February followed a 1.8% rise in January.
Grocery food prices rose 0.6% in February, and a 1.5% rise in the subgroup comprising milk, cheese, and eggs was responsible for nearly two-thirds of the increase. The milk, cheese, and eggs subgroup notched up a 9.5% rise for the year.
"A seasonal fall in fruit and vegetable prices in February offset rises in grocery food prices, particularly for dairy products," Statistics New Zealand prices manager Chris Pike said.
Yoghurt prices rose 4.5%, fresh milk prices rose 1.1% and butter prices rose 3.5% but chocolate prices fell 7.4%.
The fruit and vegetables subgroup fell 1.7% in February and included in this was a 21.3% fall in the price of apples. The fruit and vegetables subgroup usually falls in February.
NZPA
No comments yet
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills
GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained
Devon Funds Morning Note - 23 April 2024
April 23rd Morning Report
RYM - Group CEO Update