New Zealand Food Prices Rise 0.5% On Month In June

Food prices in New Zealand climbed an unadjusted 0.5 percent on month in June, Statistics New Zealand said on Thursday – following the flat reading in May.

Following seasonal adjustments, food prices were unchanged.

“April’s 75 cent increase in the minimum wage, to NZ$16.50 an hour, may have contributed to price increases for these items,” prices manager Matthew Haigh said. “Of every NZ$100 that Kiwi households spend on food, about NZ$26 goes on takeaways and eating out.”

In June, fruit and vegetable prices rose 5.8 percent (down 0.2 percent after seasonal adjustment), while meat, poultry, and fish prices fell 0.2 percent.

Grocery food prices fell 0.8 percent (down 0.7 percent after seasonal adjustment), while non-alcoholic beverage prices fell 0.2 percent and restaurant meals and ready-to-eat food prices rose 0.3 percent.

On a yearly basis, food prices were up 0.2 percent.

Fruit and vegetable prices fell 4.6 percent, while meat, poultry, and fish prices decreased 0.6 percent, grocery food prices decreased 0.1 percent, non-alcoholic beverage prices increased 2.5 percent and restaurant meals and ready-to-eat food prices jumped. 3.0 percent.

The material has been provided by InstaForex Company – www.instaforex.com

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