Sharechat Logo

Lower fruit and vege prices counter higher dairy prices in Feb

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.



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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:

28th October 2021 Morning Report
Wellington Drive Technologies Limited (NZX: WDT) Performs Strongly in Q3-2021
Ryman Healthcare Limited (NZX: RYM) Acquires Extensions to Two Existing Victorian Sites
Promisia Healthcare Limited (NZX: PHL) Banking Covenant Update
Pictor Limited Announces Start of US Clinical Trials for SARS-CoV-2 Serology Test
Arvida Group Limited (NZX: ARV) Opening of Rights Offer
Move Logistics Group Limited (NZX: MOV) Announces $40m Capital Raise
27th October 2021 Morning Report
The a2 Milk Company Limited (NZX: ATM) Investor Day 2021
Contact Energy Limited (NZX: CEN) Considers Green Capital Bond Offer