Food prices drop in last month, Labour’s ‘crisis’ works again

Remember when Labour declared milk prices were too high, that supermarkets needed regulation and also fresh fruit and vegetables were too expensive and so they needed to remove GST from them.

They also claimed that manufacturing was in crisis, it immediately recovered. They claimed that there was a brain drain and there was an immigration crisis, which promptly reversed. The last crisis was in milk prices and that has rebounded too.

Now it appears food prices have dropped in the last month.

Falling fresh milk prices led the way for grocery prices to go down last month, Statistics New Zealand says.

“Grocery food prices fell 0.8 per cent in October, led by a 5.7 per cent fall in fresh milk prices,” Statistics NZ consumer prices manager Matt Haigh said today.

Seasonally lower prices for fruit and vegetables also influenced the overall drop in prices.  

“The average price for 2 litres of blue-top milk was $3.13 in October 2015, the cheapest since January 2008 when it was also $3.13,” Mr Haigh said in a statement.

Statistics NZ said sauces and snack food prices also fell in October, and prices for cakes and biscuits rose.

Meat, poultry, and fish prices fell 1.7 per cent, reflecting lower prices for chicken and lamb. Higher pork and beef prices partly offset this.

Statistics NZ said fruit and vegetable prices fell 5.2 per cent in October, as seasonally lower prices for tomatoes, lettuce, and courgettes were partly offset by higher prices for potatoes.

Vegetable prices fell 8.3 per cent but were up 0.9 per cent after seasonal adjustment, the agency added.]

So vegetables and milk, the two things that Labour said were the most expensive are now contributing the most to price drops.

Labour clearly do not understand markets and seasons. But let’s hope they don’t realise their crisis jinx is real and all of a sudden declare a crisis in their leadership.


– NZ Herald

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