New Zealand food price index rises in May

New Zealand’s food price index rose in May on a sequential basis. Food prices were up 2.4 percent, with all food subgroups rising, showed Statistics New Zealand. On a seasonal adjustment basis, prices were up 1.6 percent.

Prices of fruit and vegetable were up 8.2 percent, with higher vegetable prices rising 16 percent. Prices for lettuce, tomatoes and kumara all rose in the month. On the other hand fruit prices dropped 3.1 percent, with lower prices for mandarins and kiwifruit partially countered by higher prices for avocados. On a year-on-year basis, food prices rose 3.1 percent.

“Our wet autumn has pushed vegetable prices to their highest level in almost six years in May, with the largest annual increase to vegetables on record. The increase was more pronounced because warmer-than-usual weather in the 2016 growing season resulted in cheaper-than-usual vegetable prices in May last year,” consumer prices manager Matthew Haigh said.