Price of food ‘stabilising’
I PA Wellington The all-foods-group index had stabilised at a level significantly below that recorded in the last months of 1979 and the first four months of this year, said the Minister of Trade and Industry (Mr Adams-Schnei-der) yesterday. Commenting on figures given by the Government Statistician,’ he said the 0.8 per cent increase in July was the same rate as in May and June and, on an annual basis, was the lowest comparative increase since April, 1979. If the growth rate of 0.8 per cent a month
continued the annual rate would be ■ just over 10 per cent.
He believed that New Zealand could look forward to a continuation of the present pattern and predicted a slowing in the rate of growth of food prices. The greatest single contributor to the rise was the price of sugar, which had also affected the prices of other products such as soft drinks, biscuits and cakes, Mr Adams-Schneider said. Prices in the fruit and vegetables sub-group had fallen by a significant pen centage during the month.
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Press, 9 August 1980, Page 6
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178Price of food ‘stabilising’ Press, 9 August 1980, Page 6
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