Food prices fall in November
11:39 AM Friday Dec 11, 2009

Food prices fell 0.3 per cent last month from October, with fruit and vegetable prices down 2 per cent.

Publishing the data today, Statistics New Zealand (SNZ) said the food price rise in the year to November of 0.9 per cent was the smallest annual increase in four years.

During the month of November the most significant price declines included a 33 per cent fall in tomato prices, a 51.5 per cent fall in broccoli prices, and a 8.7 per cent fall in minced beef prices.

Main price rises last month included nectarines doubling, bacon up 5.8 per cent and carrots up 21.7 per cent.

As well as the monthly fall in the fruit and vegetables subgroup, non-alcoholic beverages were down 0.8 per cent, and grocery food was down 0.2 per cent.

Prices in the meat, poultry and fish subgroup were up 0.1 per cent, while the restaurant meals and ready-to-eat food subgroup gained 0.6 per cent.

For the year potatoes fell 31.9 per cent, cheddar cheese fell 21.5 per cent, and apples were down 22.9 per cent, but soft drinks gained 9.6 per cent, prepared meats and smallgoods lifted 7.4 per cent, and bread was up 4.7 per cent.

In the subgroups, non-alcoholic beverages were up 6.9 per cent for the year, restaurant meals and ready-to-eat food was up 3 per cent, grocery food was up 1.5 per cent, and meat, poultry and fish lifted 1 per cent, while fruit and vegetables fell 7.6 per cent.

SNZ said that while food prices were only 0.9 per cent higher than a year ago, they were 11.4 per cent up on two years ago.

- NZP

From here.