News Karnataka
Monday, June 05 2023

Falling tomato prices pull down NZ’s overall food rates

Tomato prices may stay high for another 2 months Crisil
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Wellington: Food prices in New Zealand fell 0.6 per cent in November compared to the previous month, mainly driven by the lower prices for tomatoes, the country’s statistics department Stats NZ said on Tuesday December 14.

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, reports Xinhua news agency citing Stats NZ as saying.

These falls were partly offset by higher prices for apples, kiwi and carrots, consumer prices manager Katrina 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 per cent 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.

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