Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Prices Increase as Dollar Falls

Producers Price Index: March 2000 Quarter

The average price level for business inputs and outputs has again increased according to Statistics New Zealand's March 2000 quarter Producers Price Index. This continues a pattern of increases apparent since the June 1999 quarter, says Deputy Government Statistician Ian Ewing.

Input prices increased 1.4 per cent, while output prices increased 0.9 per cent in the March 2000 quarter. Changes of similar magnitude were observed in the previous two quarters.

The inputs index is now 4.9 per cent higher than the March 1999 quarter, an annual movement not seen since the June 1990 quarter. This follows a period of very little change in the index, which had a cumulative rise of only 2.4 per cent in the previous five years, said Mr Ewing.

The depreciation of the New Zealand dollar has several effects on the Producers Price Index. A lower New Zealand dollar will have an upwards influence on the price of imported inputs. These increased costs may in turn be passed on to businesses and consumers by domestic industries. In addition, there will be an upwards influence on the New Zealand dollars prices of exported outputs.

The wholesale trade inputs index, which covers the industry that includes oil companies, has increased 3.3 per cent in the March 2000 quarter. World crude oil prices have continued to remain high and the depreciation of the New Zealand dollar against the United States dollar has further increased the price.

Ian Ewing
Deputy Government Statistician

© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news