STORY: New Zealand food prices up 0.6 pct annually
SHOOTING TIME: Aug. 14, 2024
DATELINE: Aug. 16, 2024
LENGTH: 00:01:32
LOCATION: Wellington
CATEGORY: ECONOMY

SHOTLIST:
1. various of New Zealand street and market

STORYLINE:

New Zealand's food prices increased 0.6 percent in the 12 months to July 2024, following a 0.3 percent decrease in the 12 months to June 2024, according to the statistics department Stats NZ on Thursday.

The increase in food prices was partly driven by higher prices for restaurant meals and ready-to-eat food, which increased 3.7 percent in the 12 months to July 2024, Stats NZ said.

Despite the annual increase in overall food prices, prices decreased for fruit and vegetables, which was down 8.5 percent and driven by cheaper prices for kumara, lettuce, and potatoes. Prices for meat, poultry, and fish was down 1.1 percent, it said.

Kumara prices were almost one-third of the peak price in January 2024, Stats NZ consumer prices manager James Mitchell said.

Monthly, food prices were up 0.4 percent in July 2024, mainly contributed by fruit and vegetables price hike, following a 1 percent increase in June 2024, statistics show.

"Price increases were seen from typical seasonal produce such as tomatoes, cucumbers, and apples," Mitchell said.

Petrol prices fell 0.5 percent, while diesel prices fell 0.2 percent in July 2024, partly due to the removal of the Auckland regional fuel tax on June 30. However, Auckland was the only region to see lower fuel prices in the month, while every other region in the country saw an increase, he said.

Xinhua News Agency correspondents reporting from Wellington.
(XHTV)