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Global Economic News

New Zealand Food Prices Drop 0.8% In September

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Food prices in New Zealand tumbled 0.8 percent on month in September, Statistics New Zealand said on Monday - following the 0.3 percent gain in August and a 0.7 percent decline in July.

Fruit and vegetable prices fell 6.5 percent on month. Lower vegetable prices (down 11 percent) were the most significant contributor to the monthly fall in food prices, the bureau said, with price falls for lettuce, tomatoes, cucumber, and capsicums.

"Lower food prices in September came from seasonally cheaper vegetables, partly countered by a rise in meat prices," prices manager Chris Pike said.

Grocery food prices fell 0.2 percent, with lower prices for butter and cheese. Prices for confectionery, nuts, and snacks (down 0.9 percent) also fell. Prices were higher for cakes and biscuits (up 4.4 percent), and yogurt.

Meat, poultry, and fish prices rose 1.2 percent, influenced by higher prices for processed meat, pork, lamb, and beef.
Non-alcoholic beverage prices rose 0.6 percent, influenced by less discounting on soft drinks.

On a yearly basis, food prices eased 0.1 percent after climbing 0.7 percent in the previous month.

Grocery food prices fell 1.6 percent, influenced by lower bread prices (down 14 percent). Confectionery, nuts, and snacks (down 2.1 percent) also influenced the decrease. Prices were up for some dairy products, including fresh milk and yogurt.

Fruit and vegetable prices decreased 3.3 percent. Lower vegetable prices (down 5.7 percent) included decreases for tomatoes, kumara, and avocados.

Restaurant meals and ready-to-eat food prices increased 1.7 percent. Meat, poultry, and fish prices increased 2.2 percent, influenced by higher prices for chicken, lamb, and beef.

Non-alcoholic beverage prices increased 2.9 percent, influenced by price increases for soft drinks, waters, and juices.

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