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Financial News: New Zealand Food Prices Unchanged In September

New Zealand Food Prices Unchanged In September

10/09/2019 - 19:15:00 (RTTNews)

(RTTNews) - New Zealand Food prices were flat on an unadjusted monthly basis in September, Statistics New Zealand said on Thursday - slowing from the 0.7 percent increase in August.

On a seasonally adjusted basis, food prices were up 0.3 percent.

Individually, fruit and vegetable prices fell 1.9 percent (up 2.3 percent after seasonal adjustment), while meat, poultry, and fish prices fell 0.8 percent and grocery food prices rose 0.5 percent (up 0.5 percent after seasonal adjustment).

Non-alcoholic beverage prices rose 1.2 percent and restaurant meals and ready-to-eat food prices rose 0.4 percent.

"Fruit and vegetable prices typically fall in September as the warmer weather arrives and more stock begins to hit the shelves," consumer prices manager Sarah Johnson said.

On a yearly basis, food prices were up 2.2 percent.

Individually, fruit and vegetable prices decreased 1.0 percent, while meat, poultry, and fish prices increased 5.3 percent, grocery food prices increased 1.6 percent, non-alcoholic beverage prices increased 1.9 percent and restaurant meals and ready-to-eat food prices increased 3.3 percent.

"Rising export prices on the back of strong overseas demand for New Zealand meat has put upward pressure on the prices Kiwi consumers pay in store," Johnson said.

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