INDEPENDENT NEWS

Food Price Index: October 2005

Published: Fri 11 Nov 2005 11:50 AM
Food Price Index: October 2005 —
11 November 2005 Beef Prices Push Food Price Index Up
Food prices increased 0.3 percent in October 2005, Statistics New Zealand said today. Prices increased for the meat, fish and poultry; restaurant meals and ready-to-eat food; and fruit and vegetables subgroups. Prices for the grocery food, soft drinks and confectionery subgroup decreased.
Meat, fish and poultry prices increased 1.9 percent in October 2005, strongly influenced by price increases for beef steak (up 2.9 percent). Other significant contributions came from higher prices for pork (up 5.1 percent) and beef mince (up 4.1 percent). Restaurant meals and ready-to-eat food prices increased 0.3 percent in October 2005, driven by higher prices for restaurant meals (up 0.4 percent).
Fruit and vegetable prices were up 0.2 percent in October 2005, with the greatest upward contributions coming from carrots (up 18.9 percent) and apples (up 8.2 percent). The most significant downward contribution came from tomatoes (down 17.3 percent). Grocery food, soft drinks and confectionery prices fell 0.3 percent, with the largest downward contributions coming from soft drinks (down 2.1 percent) and chocolate confectionery (down 2.5 percent). These decreases were partly offset by higher prices for fruit juice (up 7.1 percent) and soup powder (up 8.5 percent).
From October 2004 to October 2005, food prices increased 1.1 percent. Prices increased for the restaurant meals and ready-to-eat food (up 2.5 percent); grocery food, soft drinks and confectionery (up 1.1 percent); and meat, fish and poultry (up 2.7 percent) subgroups. Prices for the fruit and vegetables subgroup decreased 3.5 percent.
Geoff Bascand
Acting Government Statistician
ENDS

Next in Business, Science, and Tech

Hospitality Wages Jump 9% To Pass Living Wage
By: Hospitality New Zealand
Climate Leaders Coalition Launches New Statement Of Ambition, Appoints New CEO Convenor
By: Sustainable Business Council
New Law Paves Way For Greater Supermarket Competition
By: New Zealand Government
New Data Shows Increase In SMEs Experiencing Stress And Anxiety
By: MYOB
Cashing In On Carbon: The New Carbon Marketplace Helping Native Forest To Thrive
By: Carbonz
Entrust Dividend Will Be Welcomed After Another Tough Year
By: Entrust
View as: DESKTOP | MOBILE © Scoop Media