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Thread: Wet weather sends food prices soaring

  1. #1
    MotherBear's Avatar
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    Default Wet weather sends food prices soaring

    Wet weather sends food prices soaring - biggest hike in 19 years
    11:23AM Thursday September 11, 2008

    Food prices rose 2.7 per cent in August, the largest monthly increase in 19 years, Statistics New Zealand (SNZ) said today.

    The last time food prices rose at a faster rate was the 3.8 per cent rise in July 1989, when the rate of GST increased from 10 per cent to 12.5 per cent.

    A key factor in the August price rise was unusually wet weather which hampered growing conditions for vegetables.

    The announcement of the sharp rise in food prices comes hard on the heels of the Reserve Bank today reducing official interest rates by a larger than expected half a percentage point to 7.5 per cent.

    Announcing the cut, Reserve Bank Governor Alan Bollard acknowledged headline inflation was headed for around 5 per cent in the current September quarter. But he expected it to trend downwards after that.

    The August rise in prices took the annual rate of food price inflation to 10.6 per cent, the largest annual increase since the year to May 1990.

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  2. #2
    Duke's Avatar
    Duke is offline Senior Member
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    Lake Milton, Ohio


    Kate came back from the store discouraged. She is a budget shopper and found out she just isnt getting more for less anymore. This has been happening and it will happen more, I dont think it has anything to do with oil, unions, weather, has to do w/ control..the only way to lighten the blow is to can or grow your own food.
    In America they pay farmers not to grow, and in Ohio they leave fertile land to be sold for new developments for housing that doesnt need to be built. If people were able to grow more of thier own food then we again may have something to stand for.
    The only backup I have for this statement is the price of produce. I can buy NZ apples cheaper at my local store than I can buy locally grown apples. Most produce that come from far,far far places like NZ are considerably cheaper..why?
    Are scones cheaper in NZ than in the UK?....
    Last edited by Duke; 12-09-2008 at 10:17 AM.

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