Cheaper fruit and veges contribute to first dip in food prices February
Thursday, 11 November 2021
Monthly food prices have fallen for the first time since February, but the cost of feeding a family is still higher than at the same time last year, data from Stats NZ shows.
Food prices fell 0.9 per cent in October compared with September, mainly influenced by cheaper fruit and vegetables, non-alcoholic beverages, and meat, poultry, and fish.
After adjusting for seasonality, prices fell 0.1 per cent in October.
Fruit and vegetable prices fell 5.9 per cent last month, led by lower prices for tomatoes (down 26 per cent), iceberg lettuce (down 23 per cent), capsicums (down 22 per cent), and cucumbers (down 25 per cent).
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These falls were partly offset by rising prices for kiwifruit (up 41 per cent), broccoli (up 9.8 per cent), and carrots (up 9.5 per cent).
Stats NZ consumer prices manager Katrina Dewbery said the weighted average price of tomatoes was $12.04 per kilogram in October, down from $16.27 in September.”
“However, tomato prices are still 47 per cent higher than in October 2020, when the weighted average price was $8.18 per kilogram.
“Lettuce, capsicum, and cucumber prices are also all higher than they were in October last year.”
After adjusting for seasonal effects, fruit and vegetable prices fell 0.2 per cent in October.
“The small movement in the seasonally adjusted series for fruit and vegetables indicates that most of the 5.9 per cent fall in the non-seasonally adjusted series was due to seasonality,” Dewbery said.
Prices for non-alcoholic drinks fell 1.6 per cent in October, mainly influenced by lower prices for 1.5 litre soft drinks (down 6.8 per cent).
Meat, poultry, and fish prices fell 0.4 per cent in October, with lower prices for chicken pieces (down 2.1 per cent) and roasting pork (down 6 per cent).
These falls were partly offset by restaurant meals and ready-to-eat food prices (up 0.4 per cent). Grocery food prices were flat.
Annually, food prices increased 3.7 per cent in October 2021, mainly due to higher prices for restaurant meals and ready-to-eat food (up 5 per cent), fruit and vegetables (up 9 per cent), and grocery food (up 3.1 per cent).
“October’s annual movement is slightly lower than September’s 4 per cent increase, but still higher than the average annual increase over the last year of 2.3 per cent,” Dewbery said.