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New Zealand July Food Prices Fall 0.2%

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

Food prices in New Zealand dipped 0.2 percent on month in July, Statistics New Zealand said on Thursday - after gaining 0.4 percent in June.

Grocery food prices fell 0.7 percent in July, influenced by lower prices for sauces, cakes and biscuits, and snack foods. Prices for dairy products, except fresh milk, also fell.

Fruit and vegetable prices added 0.1 percent in July. Higher prices for lettuce and tomatoes were partly offset by lower prices for avocados.

Avocado prices have been at historically high levels in recent months with lower prices in July influenced by the supply of new-season fruit.

On a yearly basis, food prices slipped 1.3 percent after easing 0.5 percent in the previous month.

Grocery food prices fell 2.9 percent in the year, influenced by all the main dairy products decreasing in price, including cheese (down 11 percent); fresh milk (down 3.2 percent); yoghurt (down 9.7 percent); and butter (down 11 percent).

"The price of cheese has continued to fall in the year to July 2016, to its lowest price since October 2009," consumer prices manager Matt Haigh said. "The average price of a kilo block of the cheapest available mild cheddar cheese was $7.39 in July 2016, down from $9.07 in July 2015."

Prices for snack foods, sauces, and breakfast cereals also decreased in the year to July 2016.

Meat, poultry, and fish prices decreased 2.1 percent in the latest year, with lower prices for chicken (down 9.9 percent) partly offset by higher prices for beef (up 4.6 percent).

Fruit and vegetable prices decreased 0.9 percent in the year. Lower prices for tomatoes, kumara, mandarins, and lettuce were partly offset by higher cucumber prices. Cucumber prices are now at their highest level since August 1995.

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