Falling tomato prices pull down New Zealand’s overall food prices

Insight Online News

Wellington, Dec 14 : Food prices fell 0.6 per cent in November compared with last month, mainly driven by lower prices for tomatoes, New Zealand’s statistics department Stats NZ said on Tuesday.

Tomato prices fell 49 per cent in November compared with October. But, their price was still 54 per cent higher than a year ago, Stats NZ said.

Monthly fruit and vegetable prices fell 6.7 per cent in November. Along with lower tomato prices, there were lower prices for broccoli, strawberries and potatoes. These falls were partly offset by higher prices for apples, kiwifruit and carrots, Dewbery said.

Cheaper prices for fruit and vegetables were partly offset by higher prices for grocery food and non-alcoholic beverages, she said.

On a seasonally adjusted basis, overall food prices rose by 0.3 per cent in November, statistics show.

“The 0.3 percent rise in prices after adjusting for seasonal effects shows that food prices fell by less than they usually do in November,” Dewbery said.

Annually, food prices increased 4 per cent in November, mainly due to higher prices for grocery food, restaurant meals and ready-to-eat food, she said.

“November’s annual movement is similar to the annual movements for the last few months. However, these price increases are higher than they were earlier in the year,” Dewbery added.

UNIINDIA / XINHUA

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