A drop in the price of fruit and vegetables in August 2011 has contributed to the lowest inflation rates for almost two years in Australia, according to a report published today by leading financial services provider TD-Securities. According to TD-Securities’ Melbourne Institute, the price of fruit and vegetables in Australia fell by 1.6 per cent in August 2011, compared with a rise of 1.8 per cent in July 2011. The TD-Securities Melbourne-Institute monthly inflation gauge dropped 0.1 per cent... ...Read more »

Effective immediately, Solae will increase prices of its high quality soy ingredients by 7-9 percent across the globe. Solae state that like many food companies, they have been affected by general inflationary pressure in the current economic environment, and the following significant global market dynamics affecting food manufacturers: - Global Producer Price Index is expected to increase by about 4.7 percent in 2010. - Producer Price Index is expected to continue to increase... ...Read more »

The level of food inflation in Australia has risen to 1.4% in the December quarter, although it remains moderate when compared to the rapid price hikes of the first half of 2008. The Australian Bureau of Statistics released their figures this morning, with food one of the main contributors to a 0.5% increase to the CPI. The food group inflation of 1.4% was noticeably higher than recent quarters, with the full year-on-year figure at just 1.9%. The most significant contributors to the increase were... ...Read more »

The latest ABS retail trade figures show that sales in October rose 0.3%, seasonally adjusted, with Cafes, Restaurants & Takeaway Food Services (+1.1%) the second best performing sector. The news caps a reasonably good run for restaurants and takeaway outlets over the past few months as the economic recovery leads to more Australians going out for dinner. Food retailing, which includes supermarkets, bakers and fresh food stores, saw seasonally adjusted sales fall 0.1%, however. Low inflation... ...Read more »

Inflation figures released today by the Australian Bureau of Statistics have confirmed a strong fall in the price of fruit and vegetables in the September quarter. Last week supermarket chain Coles advised that prices of fresh produce had fallen by 7.8 per cent in the third quarter, with ABS figures showing similarly strong deflation. The declining cost of fresh food led overall food prices down 0.8 per cent in the quarter, but they remain 2.5 per cent more expensive than last year. Vegetables, down... ...Read more »

The price of food fell by 0.9% in the June quarter but still maintained a lofty 4.8% rate of inflation for the year to June. The food group fell in all capital cities and offset rises in most other categories measured by the ABS. The major catalysts for decline were vegetables (-6.9%) and fruit (-7.6%), both of which benefited from peak growing seasons and favourable weather patterns. Removal of a tax on milk and a weakened dairy environment contributed to a 3.0% fall in milk prices. Partially off-setting... ...Read more »

The release of price data from the Reserve Bank of Australia on Thursday has again put the major supermarket chains under the spotlight. The RBA’s research established that food, beverage and tobacco prices had risen 4% each year, on average, since 1993 – comfortably above the 2.7% core inflation recorded. “The various types of food included in the CPI show a broadly similar trend price increase over this period, although the prices for dairy, cereals and fruit and vegetable items... ...Read more »

Retail researchers British Retail Consortium and Nielsen in the UK have reported the lowest food inflation rate of the year, falling from 1.4 per cent in April, to 1.3 per cent in May. This is the second consecutive month that inflation has slowed down. The report comes from the May BRC-Nielsen Shop Price Index (SPI), and Stephen Robertson, BRC’s Director General said results were largely driven by the biggest fall in fresh food inflation in the UK, since the index began in December 2006. “Food... ...Read more »

Despite a quarterly deflation figure and disinflation for the year to December, food price inflation gathered pace in the closing months of 2008, according to the latest Australian Bureau of Statistics Consumer Price Index (CPI) data. Australia’s latest official inflation figures showed that while the overall CPI fell 0.3 per cent quarter on quarter (QOQ) – the largest quarterly fall in more than 11 years – food prices rose two per cent (bringing the annual increase in food prices... ...Read more »

Inflation data for the year to September was released by the ABS today, with the 5% increase the greatest since 1995 (excluding the period when the GST was introduced). The inflation rate is now well above the 2-3% target range of the RBA but is not expected to stop the central bank cutting interest rates at their next meeting in November. Food inflation for the September quarter was at 1.4%, bringing the yearly rate up to 3.4% – well below the figure seen earlier this year when commodity... ...Read more »