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Poultry Prices Lift Food Price Index

by 5m Editor
14 December 2005, at 12:00am

NEW ZEALAND - Food prices recorded a consecutive increase of 0.3 percent in November 2005, Statistics New Zealand said today.

Poultry Prices Lift Food Price Index - NEW ZEALAND - Food prices recorded a consecutive increase of 0.3 percent in November 2005, Statistics New Zealand said today.

Prices increased for the meat, fish and poultry; grocery food, soft drinks and confectionery; and restaurant meals and ready-to-eat food subgroups. Prices for the fruit and vegetables subgroup decreased.

Meat, fish and poultry prices increased 1.1 percent in November 2005, driven by higher prices for poultry (up 9.7 percent). Partly offsetting this increase were lower prices for beef mince (down 4.1 percent). Grocery food, soft drinks and confectionery prices increased 0.4 percent in November 2005, with the largest contributions coming from higher prices for chocolate confectionery (up 3.7 percent) and canned spaghetti (up 15.5 percent).

The largest downward contribution came from lower prices for potato crisps (down 7.5 percent). The restaurant meals and ready-to-eat food subgroup increased 0.3 percent in November 2005. Prices for both ready-to-eat food and restaurant meals increased 0.3 percent.

Fruit and vegetable prices fell 1.6 percent in November 2005, with the most significant downward contributions coming from lower prices for oranges (down 18.5 percent) and broccoli (down 18.7 percent). Significant upward contributions came from increased prices for lettuce (up 30.7 percent) and tomatoes (up 8.5 percent). Compared with November 2004, food prices were 1.5 percent higher in

November 2005. Prices increased for the grocery food, soft drinks and confectionery (up 1.6 percent); restaurant meals and ready-to-eat food (up 2.5 percent); and meat, fish and poultry (up 2.3 percent) subgroups. Prices for the fruit and vegetables subgroup decreased 2.0 percent.

Source: Statistics New Zealand - 14th December 2005

5m Editor