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Vegetables Drive Fall In Food Price

Fuseworks Media
Fuseworks Media

Wellington, Nov 17 NZPA - Lower prices for fruit and vegetables were behind a decrease in food prices of 0.3 percent in the October 2008 month, Statistics New Zealand said today. Government Statistician Geoff Bascand said the decrease was mainly due to fruit and vegetables, the group was down 6 percent, driven by lower prices for lettuce, which were down 50.7 percent, and tomatoes, down 24.9 percent.

These decreases were partly offset by higher prices for potatoes, which were up 20.6 percent.

The main upward contribution to the food price index came from higher prices for the meat, poultry and fish subgroup, up 2.4 percent, in the October 2008 month.

Within the subgroup, the main contributors were beef, up 5.4 percent, and prepared meats and smallgoods, which were up 6.0 percent.

Prices for grocery food were up 0.6 percent, mainly due to higher prices for bread (up 3.2 percent), which were offset by lower prices for cheddar cheese, down 4.0 percent.

For the year to October 2008, food prices rose by 9.9 percent.

All five subgroups recorded upward contributions to the annual increase: grocery food (up 11.9 percent), meat, poultry and fish (up 11.0 percent), fruit and vegetables (up 12.5 percent), restaurant meals and ready-to-eat food (up 6.4 percent), and non-alcoholic beverages (up 4.7 percent).

Within these subgroups, individual higher prices were recorded for cheddar cheese (up 39.2 percent) and potatoes (up 41.7 percent).

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