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New Zealand Food Prices Up 0.6% On Month

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Food prices in New Zealand moved higher by 0.6 percent in July, boosted by vegetable prices.

Statistics NZ reported Thursday that higher vegetable prices were responsible for nearly the entire increase from the month before, with growing conditions hurt by cold weather.

For the month, fruit and vegetable prices were up 3.1 percent, with lettuce prices rose 41.6 percent after more than doubling in June. Grocery food prices were up 0.5 percent on month while meat, poultry and fish prices declined 0.7 percent from their record high the month before.

For the full year to July 2009, food prices were up 8.4 percent, with increases in all five sub-categories.

(Market News Provided by RTTNews)

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