Thursday , December 9 2021

Grilled beef: an increase in lamb and sausage prices


The summer tradition of Kiwi Barbecue was set this morning in a bigger bite of kiwi bins.

Data released by Statistics New Zealand showed lamb prices rose 7.7 percent in September, reaching a record $ 17.12 per kilo, while sausages rose 4.9 percent to $ 10.30 per kilogram, according to data Stats NZ.

"The strong demand for meat exports from New Zealand, especially lambs, and also belongs to the New Zealand dollar, has helped us raise our meat prices," said Consumer Price Manager Geraldine Duob.

However, the price of cattle and porterhouse cups has eased from a recent high September to $ 30.72 per kilogram.

Overall, meat, livestock and fish prices rose 2.4 percent in October.

But there was news for vegetarians.

Keeping pending costs, vegetables prices fell in October, 8.7 percent after similar slides in September. The price of tomatoes sank 22 percent to $ 6.90 per kilogram, while the salad fell by 30 percent to $ 1.28 per head of 500 grams.

"Parades, pastas and salads have fallen prices this month," said Duoba. "These prices usually fall as we move in the summer."

Restaurant meals and ready-made meals recorded a growth of 0.1 percent last month.

Compared to the previous year, prices of food products increased by 0.6%, increased by 2.9% in restaurant meals and food meal prices, and prices of meat, poultry and fish by 2.6%. The fall in the price of vegetables and fruits, down by 5.6 percent, helped keep the lid on overall food inflation for a year.

The food price index is around 19 percent of the consumer price index, which is the mandate of the inflation rate of the bank's reserves when determining interest rates.

Governor Adrian Orr said at a recent review of cash reserves of the bank's banker that the central bank expects to maintain its official cash rate at the current level, or 1.75% by 2020, and to expose the lingua franca about a possible reduction in the rate.

– BusinessDesk

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