Food prices continue to fall

Embargoed until 10:45am – 15 October 2009
Food prices continue to fall

Food prices decreased 0.7 percent in the September 2009 month, Statistics New Zealand said today. The Food Price Index (FPI) also fell in August, by 0.9 percent. Both falls were influenced by lower fruit and vegetable prices.

In September 2009, fruit and vegetable prices decreased 8.4 percent. Vegetable prices fell 12.8 percent in September and 3.2 percent in August. Prices were particularly high in July 2009, influenced by unusually cold weather in May. Lower prices were recorded in September for lettuce (down 40.7 percent), cucumber (down 25.5 percent), and capsicum (down 23.5 percent), following unusually warm weather in August.

Grocery food prices recorded their second consecutive fall (down 0.1 percent in September 2009 and 1.3 percent in August), while meat, poultry, and fish prices rose 1.8 percent in September, following price falls in July and August.

For the year to September 2009, food prices rose 3.3 percent, which is the smallest annual increase since a rise of 3.0 percent in the year to June 2007. Four subgroups recorded increases: grocery food (up 3.8 percent), meat, poultry, and fish (up 7.1 percent), non-alcoholic beverages (up 9.7 percent), and restaurant meals and ready-to-eat food (up 3.6 percent).

The fruit and vegetables subgroup fell 7.4 percent in the year to September 2009.

Food Price Index Sep 09 (pdf)

Food Price Index Sep 09 - Tables (xls)

ENDS

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