Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Consumer Price Index rises 0.1 percent in December quarter

21 January 2014

The consumers price index (CPI) rose 0.1 percent in the December 2013 quarter, Statistics New Zealand said today. Higher international air fares and rising housing and dairy prices were partly countered by lower vegetable prices and cheaper petrol.

International air fares rose 12 percent in the December 2013 quarter – the highest quarterly rise since the December 2009 quarter. "International air fares usually rise in December quarters. This quarter's rise reflects seasonally higher air fares to Asia and Europe," prices manager Chris Pike said. Package holiday prices (up 7.3 percent) also showed a seasonal rise.

Prices for housing and household utilities (up 0.5 percent) also rose, reflecting higher prices for property maintenance, purchase of newly built houses, and rentals for housing.

Prices for milk, cheese, and eggs rose 4.2 percent, the highest quarterly rise since the September 2010 quarter.

Vegetable prices (down 20 percent) fell in the December quarter, as they usually do. Prices for tomatoes, lettuce, and cucumber were about half what they had been in the previous quarter.

Petrol prices fell 3.5 percent in the December quarter after a 5.6 percent rise in the September quarter, when they peaked at their highest level – an average of $2.17 per litre for 91 octane. The average price in the December quarter was $2.09 per litre.

Annual change in prices

The CPI increased 1.6 percent in the year to the December 2013 quarter. This is the highest annual rise since the March 2012 quarter.

Almost half of the increase came from housing and household utility prices, which increased 3.2 percent. There were increases across the board: purchase of newly built houses (up 4.7 percent), housing rentals (up 2.1 percent), property maintenance (up 4.3 percent), household energy (up 2.4 percent), and property rates and related services (up 4.1 percent).

Cigarette and tobacco prices (up 12 percent) continue to affect the annual increase, reflecting a rise in excise duty in January 2013.

The main downward contribution came from cheaper audio-visual and computing equipment (down 10 percent). Telecommunication services and car prices also fell.

The CPI measures the rate of price change of goods and services purchased by New Zealand households. Statistics NZ visits 3,000 shops across New Zealand to collect prices for the CPI and check product sizes and features.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On The IOC’s Treatment Of Russian Sport, And Lone Wolf Terrorism

A blanket ban on Russian athletes would also have exposed the IOC to criticism that its treatment of Russia would have been marked contrast to its treatment say, of the track and field team from Kenya – a country about which the IOC has very similar doping concerns. More>>

ALSO:

Sounds Like A Plan: Auckland Council Receives Unitary Plan Recommendations

A key milestone in New Zealand planning history was reached today when the Independent Hearings Panel delivered the reports containing its recommendations on the Proposed Auckland Unitary Plan. More>>

ALSO:

National Park Expansion: Forests And Coast Of Kahurangi Protected

Five parcels of high value land totalling more than 890 hectares have been formally gazetted as part of the National Park. More>>

ALSO:

PPP Go-Ahead: SkyPath Gets Unanimous Support

Auckland’s SkyPath project has been given the go-ahead to be delivered through a public private partnership, after a unanimous decision at today’s Finance and Performance Committee. More>>

ALSO:

Gordon Campbell: On The Reserve Bank, The UN Shortlist, And Trump

Can there really be there any link between the US presidential elections and yesterday’s RBNZ signals on interest rates and the NZ dollar? Well, maybe. And it would be this: the improving US economy is reportedly putting a tailwind behind the US dollar, and rendering the actions of our Reserve Bank virtually irrelevant. More>>

ALSO:

Gordon Campbell: On What John Key Should Be Asking Joe Biden

No doubt, US Vice-President Joe Biden will be updating Prime Minister John Key on the chances of a TPP vote taking place in the ‘ lame duck’ session of Congress that’s held between the November’s election and the inauguration of a new President in January. More>>

ALSO:

Make NZ Make Again: Greens Will Establish A Minister For Manufacturing

The Green Party announced today that it will establish a Minister for Manufacturing in Cabinet, to better represent the interests of manufacturers and ensure they thrive. The Minister will be inside Cabinet and have responsibility for the long-term interests of the manufacturing sector. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news