Food prices dip slightly in November

Food prices dipped slightly in the month to November, Statistics New Zealand figures out today show.

The food prices index showed food prices slipped 0.1 per cent in November, from October, Statistics NZ said.

Economists had picked the index to rise 0.3 per cent over the period, according to a Reuters survey.

On a yearly basis, food prices in the 12 months to November were up 0.8 per cent on the previous same period.

Economists forecast a rise of 1.1 per cent over the same period, Reuters said.

Fruit and vegetable prices gave up 3.1 per cent, driven mainly by lower prices for fresh vegetables in November from October, the figures showed.

The greatest falls came in the prices for strawberries (down 30.9 per cent), broccoli (down 24.2 per cent), and lettuce (down 19.3 per cent), Statistics NZ said in a statement.

Prices for tomatoes and bananas were up, respectively, 26.9 per cent and 12.0 per cent.

Grocery food, soft drinks and confectionary prices slipped 0.2 per cent over the same period.

Meat, fish and poultry prices were up 1.5 per cent, while restaurant meals and ready to eat food prices gained 0.3 per cent.

- NZPA