Cheddar cheese prices at eight-year low

Cheddar cheese prices at eight-year low

13 July 2016

Food prices decreased 0.5 percent in the year to June 2016, influenced by lower grocery food prices (down 2.3 percent), Statistics New Zealand said today. Compared with June 2015, cheese prices were down 9.5 percent, fresh milk was down 3.9 percent, and yoghurt was down 9.2 percent.

“The average price of a kilo of cheddar cheese was $7.68 in June 2016, down from $9.12 in June 2015. This was the lowest price since September 2007,” consumer prices manager Matt Haigh said.

Meat, poultry, and fish prices decreased 0.9 percent in the year. Lower prices for chicken (down 5.3 percent), processed meat (down 2.9 percent), and lamb (down 5.2 percent) were partly offset by higher prices for beef (up 4.3 percent).

Fruit and vegetable prices increased 2.0 percent over the year, with continued record high prices for avocados (up 146 percent), partly offset by lower prices for tomatoes (down 20 percent).

Restaurant meals and ready-to-eat food increased 1.6 percent in the year to June 2016.

Seasonally adjusted food prices fall in June month

Food prices rose 0.4 percent in June 2016. The rise was mainly influenced by higher fruit and vegetable prices (up 4.2 percent). However, after adjusting for seasonal effects, food prices fell 0.9 percent.

Vegetable prices rose 8.4 percent in June, led by seasonally higher prices for cucumbers, capsicums, and lettuce. After seasonal adjustment vegetable prices fell 6.5 percent, with smaller price rises for tomatoes than usual for this time of year. Fruit prices fell 0.9 percent, with lower prices for mandarins.

Grocery food prices fell 0.7 percent, with lower prices for milk, cheese, and eggs. Meat poultry and fish prices fell 0.2 percent, with lower prices for lamb.



For more information about these statistics:

• Visit Food Price Index: June 2016

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