New Zealand Food Prices Spike 2.0% In January

(RTTNews) - Food prices in New Zealand climbed 2.0 percent on month in January, Statistics New Zealand said on Friday - marking the highest monthly rise since June 2013.

The January reading follows the 0.8 percent decline in December, and it marks the first positive reading in six months.

Fruit and vegetable prices rose 4.4 percent, influenced by seasonally higher prices for strawberries, apples, and tomatoes.

Grocery food prices increased 1.6 percent, influenced by fresh milk (up 4.9 percent), chocolate (up 5.0 percent), and plain biscuits (up 14 percent).

"The average price of two liters of fresh milk increased to NZ$3.29, from its previous low of NZ$3.13 in November and December 2015," consumer prices manager Matt Haigh said.

Meat, poultry, and fish prices rose 3.3 percent, influenced by higher prices for most meat products - including chicken (up 10 percent) and beef (up 2.9 percent).

The average price of 1 kilogram of chicken breasts increased from NZ$14.62 in December 2015 to NZ$15.45 this month.

On a yearly basis, food prices slid 0.6 percent after skidding 1.3 percent in the previous month.

The fall was led by lower grocery food prices (down 2.1 percent), due to lower prices for fresh milk (down 9.0 percent), cakes and biscuits (down 6.2 percent), and yogurt (down 11 percent). The fall was partly offset by price rises for chocolate and cheese.

Fruit and vegetable prices decreased 1.2 percent over the year. A decrease of 4.7 percent for vegetables was partly offset by a rise of 3.0 percent for fruit.

Prices for non-alcoholic beverages and for restaurant meals and ready-to-eat food increased over the year - by 0.2 percent and 2.0 percent, respectively.