FOREX TradingCharts.com

Financial News: New Zealand January Food Prices Rise An Unadjusted

New Zealand January Food Prices Rise An Unadjusted 1.3%

02/11/2021 - 17:32:00 (RTTNews)

(RTTNews) - Food prices in New Zealand climbed an unadjusted 1.3 percent on month in January, Statistics New Zealand said on Friday.

Seasonally adjusted, food prices were flat on month.

In January 2021 compared with December 2020: fruit and vegetable prices rose 1.7 percent (down 1.4 percent after seasonal adjustment); meat, poultry, and fish prices rose 1.1 percent; grocery food prices rose 1.8 percent (up 0.8 percent after seasonal adjustment); non-alcoholic beverage prices rose 2.5 percent; and restaurant meals and ready-to-eat food prices rose 0.3 percent.

A six-pack of yogurt reached a weighted average price of NZ$5.45, the highest it has been since April 2015.

"In January 2021 we saw a six-pack of yogurt coming off a number of discounted prices in December 2020," consumer prices manager Katrina Dewbery said. "Pricing officers around the country let us know if items are on special which means we can keep track of specialing. We can see the impact this has on prices month-to-month."

Yogurt makes up 1.13 percent of the food price index (FPI) basket compared with fresh milk which makes up 3.60 percent. The price of milk was up 1.8 percent in the month of January 2021.

The 1.3 percent increase in January was also influenced by rises in: beef steak - porterhouse or sirloin (up 7.3 percent); large soft drinks (up 5.9 percent); and potato crisps (up 5.5 percent).

These were partly offset by lower prices for grapes, down 20 percent.

On a yearly basis, food prices rose 2.1 percent - slowing from 2.9 percent in the previous month.

In January 2021 compared with January 2020: fruit and vegetable prices increased 6.9 percent; meat, poultry, and fish prices decreased 1.7 percent; grocery food prices increased 1.2 percent; non-alcoholic beverage prices increased 0.4 percent; and restaurant meals and ready-to-eat food prices increased 3.9 percent.

Also on Friday, BusinessNZ reported that the manufacturing sector in New Zealand climbed firmly into expansion territory in January, with a Performance of Manufacturing Index score of 57.7.

That's up sharply from 48.7 in December and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, four of the five main indices expanded last month, including production (59.1), employment (55.4), new orders (62.4) and finished stocks (52.5). Only deliveries (48.7) were in the red.

"The three-month average to January was 53.6, slightly above the long-term norm of 53.0. Also, January's improvement was encouraging in its composition, with New Orders leading the way," said BNZ Senior Economist Craig Ebert.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Japan Industrial Production Rises 4.2% In January (34 min(s), 04 sec(s) ago)
(RTTNews) - Industrial output in Japan was up a seasonally adjusted 4.2 percent on month in Januar ...Full Story»

Japan Retail Sales Slip 0.5% In January (59 min(s), 04 sec(s) ago)
(RTTNews) - The value of retail sales in Japan was down a seasonally adjusted 0.5 percent on month ...Full Story»

Japan Industrial Output Climbs 4.2% In January (01 hr(s), 09 min(s), 04 sec(s) ago)
(RTTNews) - Industrial production in Japan was up a seasonally adjusted 4.2 percent on month in Ja ...Full Story»

Tokyo Inflation Slides 0.3% On Year In February (01 hr(s), 34 min(s), 04 sec(s) ago)
(RTTNews) - Overall consumer prices in the Tokyo region of Japan - considered a leading indicator ...Full Story»

Japan Data On Tap For Friday (02 hr(s), 44 min(s), 04 sec(s) ago)
(RTTNews) - Japan is scheduled to release a batch of data on Friday, headlining a busy day for Asi ...Full Story»

New Zealand Has NZ$626 Million Trade Shortfall (03 hr(s), 18 min(s), 04 sec(s) ago)
(RTTNews) - New Zealand had a merchandise trade deficit of NZ$626 million in January, Statistics N ...Full Story»

Portugal Consumer Confidence Weakens In February (09 hr(s), 43 min(s), 04 sec(s) ago)
(RTTNews) - Portugal's consumer confidence deteriorated in February after strengthening in the ...Full Story»

U.S. Pending Home Sales Unexpectedly Show Steep Drop In January (09 hr(s), 59 min(s), 04 sec(s) ago)
(RTTNews) - With inventory constraints continuing to hold back prospective buyers, the National As ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Japan Industrial Production Rises 4.2% In January

02/25/2021 - 19:40 PM (RTTNews)
(RTTNews) - Industrial output in Japan was up a seasonally adjusted 4.2 percent on month in Januar ...Full Story>>

Japan Retail Sales Slip 0.5% In January

02/25/2021 - 19:15 PM (RTTNews)
(RTTNews) - The value of retail sales in Japan was down a seasonally adjusted 0.5 percent on month ...Full Story>>

Japan Industrial Output Climbs 4.2% In January

02/25/2021 - 19:05 PM (RTTNews)
(RTTNews) - Industrial production in Japan was up a seasonally adjusted 4.2 percent on month in Ja ...Full Story>>

Tokyo Inflation Slides 0.3% On Year In February

02/25/2021 - 18:40 PM (RTTNews)
(RTTNews) - Overall consumer prices in the Tokyo region of Japan - considered a leading indicator ...Full Story>>

Japan Data On Tap For Friday

02/25/2021 - 17:30 PM (RTTNews)
(RTTNews) - Japan is scheduled to release a batch of data on Friday, headlining a busy day for Asi ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.