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Lower electricity prices are key to PPI fall

Lower electricity prices are key to PPI fall – Media release

20 February 2014

Prices received by New Zealand producers, as measured by the output producers price index (PPI), fell 0.4 percent in the December 2013 quarter, Statistics New Zealand said today. The input PPI, representing the prices of goods and services used by New Zealand producers, fell 0.7 percent in the same quarter.

“Lower electricity prices, influenced by lower demand in summer months and higher lake levels, contributed to both the lower input and output PPIs in the latest quarter,'' prices manager Chris Pike said. The electricity and gas supply output price index has consistently fallen in December quarters since 2006.

The output electricity and gas supply price index fell 8.7 percent, while the input price index fell 9.8 percent in the December 2013 quarter.

In the year to the December 2013 quarter, the output electricity and gas supply index increased 1.6 percent, while the input index decreased 3.1 percent.

The dairy cattle farming output price index was unchanged in the December 2013 quarter. The output prices for dairy product manufacturing fell 0.2 percent. Dairy product manufacturers received lower export prices for butter and cheese.

In the year to the December 2013 quarter, the output PPI was up 3.8 percent, while the input PPI rose 2.8 percent.

Producers Price Index: December 2013 quarter

PPI_Dec2013IR.pdf

PPI_tablesDec2013.xls

ENDS

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