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Financial News: New Zealand Food Prices Advance Seasonally Adjusted 0.7%

New Zealand Food Prices Advance Seasonally Adjusted 0.7% In July

08/12/2019 - 19:40:00 (RTTNews)

(RTTNews) - Food prices in New Zealand climbed a seasonally adjusted 0.7 percent on month in July, Statistics New Zealand said on Tuesday. Unadjusted, process were up 1.1 percent.

Individually, fruit and vegetable prices rose 1.8 percent on month (up 1.0 percent after seasonal adjustment); meat, poultry, and fish prices rose 2.6 percent; grocery food prices rose 0.6 percent (up 0.4 percent after seasonal adjustment); non-alcoholic beverage prices rose 1.5 percent; and restaurant meals and ready-to-eat food prices were flat.

"Seasonal vegetables are still experiencing the usual price rise in July, although the increases are smaller than in the previous couple of years due to better weather conditions," consumer prices manager Sarah Johnson said.

On a yearly basis, food prices gained 0.9 percent.

Individually, fruit and vegetable prices decreased 9.3 percent; meat, poultry, and fish prices increased 5.4 percent; grocery food prices increased 2.1 percent; non-alcoholic beverage prices decreased 1.1 percent; and restaurant meals and ready-to-eat food prices increased 3.0 percent.

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