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Capital goods prices up 0.5 percent

Capital goods prices up 0.5 percent – Media release

20 February 2014

In the December 2013 quarter, the price of purchasing new capital items rose 0.5 percent, Statistics New Zealand said today. Four of six asset groups measured by the capital goods price index (CGPI) rose.

The major upward contributions to the CGPI came from:
• the residential buildings price index (up 1.1 percent)
• the non-residential buildings price index (up 1.4 percent).

The rises in the December 2013 quarter were offset by decreases in the price indexes for plant, machinery, and equipment (down 0.6 percent), and transport equipment (down 0.1 percent). The appreciating New Zealand dollar against most key currencies influenced these indexes.

In the year to the December 2013 quarter, the CGPI rose 1.4 percent. The increases for residential buildings (up 4.5 percent) and non-residential buildings (up 3.2 percent) were the highest since 2008.

The CGPI measures the change in the purchase price of new capital goods used by New Zealand producers.

 Capital Goods Price Index: December 2013 quarter

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ENDS

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