13 May 2014

Food prices up 1.5 percent in a year

12:15 pm on 13 May 2014

Food prices rose 1.5 percent in April compared with the same month last year and all five of the subgroups measured by Statistics New Zealand rose for a second consecutive month compared with a year ago.

Food prices are up 1.5 percent on April 2013.

Food prices are up 1.5 percent on April 2013. Photo: PHOTO NZ

Compared with March, food prices were up 0.6 percent in seasonally adjusted terms with the main changes being higher prices for beef, snack foods, bread and cereals, partly countered by declines in the prices of kiwifruit and chicken.

Grocery prices were up 1 percent, both compared with March and with April last year.

The monthly rise reflected a 1.4 percent rise in the prices of milk, cheese and eggs and 1 percent increases in the prices of bread, cereals, confectionery, nuts and snacks.

These increases were partly offset by a 2.9 percent fall in the price of chicken and a 3.9 percent fall in lamb prices.

Prices for non-alcoholic beverages fell 0.8 percent in the month, influenced by more discounting on energy drinks and soft drinks.

However, compared with April last year, prices of non-alcoholic beverages were up 1.6 percent.

Prices of restaurant meals and ready-to-eat food rose 2.2 percent in April compared with April last year and had the biggest impact on the annual increase.

The prices of milk, cheese and eggs jumped 6.7 percent in the year with fresh milk and cheese each up 9.7 percent.