INDEPENDENT NEWS

Food Price Index: December 1999

Published: Wed 19 Jan 2000 11:22 AM
Food Price Index: December 1999
December Food Prices Fall Figures released today by Statistics New Zealand show that food prices in December were 0.6 per cent lower than in November 1999. Compared with a year earlier food prices in December were 0.5 per cent lower, said Deputy Government Statistician Ian Ewing.
Overall, food prices have remained flat since August 1998.
Major contributors driving down the December price level were potatoes, fresh and frozen poultry, and frozen or chilled meat pies. Significant monthly price increases were recorded for tomatoes, lettuce, cabbage and kiwifruit.
Grocery food prices fell by 1.0 per cent in December 1999. This follows a 0.7 per cent price rise from October to November 1999. Lower prices for frozen or chilled meat pies, bread and bread rolls, sweets and potato crisps were responsible for pushing down this subgroup's prices. Compared with a year earlier, grocery food prices were 0.3 per cent lower in December 1999.
Prices for fresh and frozen poultry decreased by 5.9 per cent in December, mainly due to specials. Price decreases for chops also contributed significantly to the 1.8 per cent overall fall in meat, fish and poultry prices in December. Meat, fish and poultry prices are, however, 1.9 per cent higher than in December 1998.
Fruit and vegetable prices rose by 1.5 per cent in December. This follows a 0.1 per cent decrease in November 1999 and is the first increase in this subgroup after seven consecutive decreases which commenced in May 1999. Contributors to December's 2.2 per cent increase in fresh fruit and vegetables were price rises for tomatoes, lettuce, cabbage, kiwifruit and broccoli. The most significant price decreases to partially offset these rises were for potatoes, cucumbers and zucchini.
On a regional basis, eight out of the 15 centres recorded decreases in food prices in December 1999. Napier-Hastings prices fell by 1.9 per cent, the largest decrease this month, while Nelson and Timaru both recorded the largest increase, rising by 0.8 per cent.
Ian Ewing
DEPUTY GOVERNMENT STATISTICIAN
END
There is a companion Hot Off The Press information release published - Food Price Index December 1999.

Next in Business, Science, and Tech

Crown accounts show strong economic fundamentals
By: New Zealand Government
Official Cash Rate unchanged at 1.5 percent
By: Reserve Bank
NZ economy loses momentum, risks tilted to downside - IMF
By: BusinessDesk
New pilot enables NZSA to track satellites launched from NZ
By: NZSA
NZ's living standards framework positive but has gaps
By: BusinessDesk
Safer banks and strengthened bank accountability
By: New Zealand Government
Financial Statements of the Government
By: New Zealand Treasury
Banks, insurers should expect more intrusive RBNZ - Bascand
By: BusinessDesk
The RBNZ is renewing its approach to financial stability
By: Reserve Bank
IMF favours gradual bank capital hike
By: BusinessDesk
New Zealand: Staff Concluding Statement of Art IV Mission
By: International Monetary Fund
IMF confirms NZ economy slowing
By: New Zealand National Party
Egg Industry introduces first industry-led trace program
By: Egg Producers Federation
OECD joins KiwiBuild critics as 'reset' looms
By: BusinessDesk
Global trade crisis 'bad news' for open economies like NZ
By: BusinessDesk
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media