New Zealand Food Prices Add 0.3% In December

(RTTNews) - Food prices in New Zealand gained 0.3 percent on month in December, Statistics New Zealand said on Thursday.

This follows the 0.5 percent decline in November and the flat reading in October.

"Higher prices for fruit, yogurt, and chicken were partly countered by lower prices for some dairy products," prices manager Chris Pike said.

In December, fruit and vegetable prices climbed 1.4 percent, influenced by higher fruit prices (up 4.2 percent), including kiwifruit, apples, and oranges. Lower vegetable prices (down 0.8 percent) were influenced by price falls for tomatoes, broccoli, and lettuce, partly offset by higher prices for potatoes and pumpkin.

Meat, poultry, and fish prices rose 0.9 percent, with higher prices for chicken (up 2.6 percent) and processed meat (up 1.6 percent) being partly offset by lower prices for beef (down 1.0 percent). Chicken prices are now at their highest level, which is 1.1 percent higher than their previous peak in December 2013.

Grocery food prices fell 0.7 percent on month, influenced by lower prices for most dairy products. Price falls for cheese (down 5.1 percent), fresh milk (down 1.7 percent), and butter (down 10 percent) were offset by higher prices for yogurt (up 14 percent).

On a yearly basis, food prices jumped 1.0 percent after rising 0.6 percent in November and 0.9 percent in October.

Meat, poultry, and fish prices climbed 3.2 percent on year, influenced by higher prices for beef (up 9.3 percent).

Fruit and vegetable prices advanced 3.2 percent. Higher prices for lettuce, potatoes, and nectarines were partly offset by lower prices for tomatoes and kumara. Non-alcoholic beverage prices increased 3.0 percent, influenced by higher prices for soft drinks.

Grocery food prices dropped 1.5 percent on year, influenced by lower bread prices (down 14 percent). Supermarkets discounting some own-brand bread in recent months have contributed to the lower bread prices. Prices for cheese and butter also decreased. These price decreases were partly offset by higher prices for fresh milk and yogurt.