Beef prices push food price index up

Higher fuel prices may be beginning to flow through to consumers' shopping lists, with Statistics New Zealand figures out today showing food prices rose 0.3 per cent in October.

The monthly rise was widespread, with higher prices for meat, fish and poultry; restaurant meals and ready-to-eat food; and fruit and vegetables.

That was partly offset by falling prices for grocery food, soft drinks and confectionery.

In the year to October, food prices rose 1.1 per cent.

The figures show budget conscious consumers may need to rein in their cravings for red meat. Meat, fish and poultry prices increased 1.9 per cent in October, strongly influenced by price increases for beef steak (up 2.9 per cent).

Restaurant meals and ready-to-eat food prices increased 0.3 per cent in October, while fruit and vegetable prices were up 0.2 per cent.

Grocery food, soft drinks and confectionery prices fell 0.3 per cent, with the largest downward contributions coming from soft drinks (down 2.1 per cent) and chocolate (down 2.5 per cent).

These decreases were partly offset by higher prices for fruit juice (up 7.1 per cent).

- NZPA