Food prices in New Zealand fell 0.8 percent on month in October, Statistics New Zealand said on Friday – following a 0.9 percent decline in September.
Vegetable prices showed the biggest movement in October, down 8 percent in total. Fruit prices were down 1.8 percent. As well as lower prices for lettuce and tomatoes, courgettes were down 43 percent. This was partly offset by higher carrot prices, up 19 percent.
"Tomatoes continued their price decline for the second consecutive month, to $6.83 per kilo this month. While this is a large fall, tomatoes are still more expensive than they were in October 2015," consumer prices manager Matt Haigh said.
Meat, poultry, and fish prices rose 0.8 percent in October. This was influenced by higher prices for poultry (up 4.4 percent). Pork prices have fallen 5.3 percent in the month to their lowest level since August 2014.
"Lower pork prices reflect cheaper prices for roasting pork, and brought prices in line with those seen six years ago," Haigh said.
Prices for grocery foods were flat in October 2016, with lower prices for cheese (down 3.6 percent) and yoghurt (down 4.6 percent) partly offset by higher prices for fresh milk (up 1.4 percent). Non-alcoholic beverages prices fell by 1.2 percent in October, influenced by lower prices for coffee, soft drinks, waters, and juices.
On a yearly basis, food prices were up 0.6 percent.
Fruit and vegetable prices rose 1.2 percent on year, while meat, poultry, and fish prices fell 0.4 percent.
Also on Friday, Business NZ said that the manufacturing sector in New Zealand continued to expand in October, albeit at a slower pace, with a Performance of Manufacturing Index score of 55.2.
That's down sharply from 57.7, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, new orders, production, finished stocks and deliveries all slowed but remained in expansion territory.
Employment was the lone gainer, accelerating its expansion.
by RTT Staff Writer
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