Food prices in New Zealand fell 1.0 percent in February 2014, but were up 0.2 percent on a year earlier, Statistics New Zealand reported recently.
Prices manager Chris Pike said in February, boxed chocolates were cheaper (prices down 21 percent) in the lead-up to Valentine’s Day. Fruits, vegetables, beef and lamb are also seasonally cheaper.
The seasonal fall in fruit and vegetable prices (down 5.9 percent) was influenced by price falls for both vegetables (down 6.5 percent) and fruit (down 5.1 percent). The main downward contributions came from apples and tomatoes.
Meat, poultry, and fish prices fell 1.9 percent, reflecting lower prices for beef (down 4.6 percent) and lamb (down 9.0 percent). Restaurant meals and ready-to-eat food (down 0.2 percent) also fell.
Meanwhile, non-alcoholic beverage prices rose 0.7 percent, influenced by less discounting on soft drinks (up 2.3 percent). Grocery food prices (up 0.1 percent) rose slightly. Snack foods and sauces recorded higher prices, while chocolate prices fell.
In the year to February 2014, the food price index (FPI) increased 0.2 percent. The FPI measures the rate of price change of food and food services purchased by households.