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Financial News: New Zealand Food Prices Climb SA 0.4% On

New Zealand Food Prices Climb SA 0.4% On Month In August

09/11/2019 - 19:15:00 (RTTNews)

(RTTNews) - Food prices in New Zealand gained a seasonally adjusted 0.4 percent on month in August, Statistics New Zealand said on Thursday.

Unadjusted, prices were up 0.7 percent on month.

Individually, fruit and vegetable prices rose 2.9 percent (down 0.4 percent after seasonal adjustment); while meat, poultry, and fish prices rose 1.0 percent; grocery food prices rose 0.4 percent (up 0.7 percent after seasonal adjustment); non-alcoholic beverage prices rose 0.3 percent; and restaurant meals and ready-to-eat food prices rose 0.2 percent.

Tomato prices rose to nearly NZ$10 per kilogram in August, jumping over NZ$3 per kilogram in price. At the same time, bacon prices rose to record levels this month.

"August is typically the most expensive time of the year to buy tomatoes, and last month was no exception, with prices up 51 percent from July this year," consumer prices manager Sarah Johnson said.

Food prices increased 2.1 percent in the year ended August 2019.

Individually in August, fruit and vegetable prices decreased 4.6 percent; while meat, poultry, and fish prices increased 8.0 percent; grocery food prices increased 2.0 percent; non-alcoholic beverage prices increased 1.2 percent; and restaurant meals and ready-to-eat food prices increased 3.1 percent.

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