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Capital Asset Prices Rise

Capital Goods Price Index: June 2000 quarter

Capital Asset Prices Rise

Capital asset prices increased 0.6 per cent in the June 2000
quarter, figures from the latest Capital Goods Price Index show today.

"The All Groups index increased by 2.4 per cent over the last year," Deputy Government Statistician Ian Ewing says, "which is a relatively Large increase compared to recent years."

The All Groups index rose only 1.6 per cent during the period December 1993 to June 1999.

The residential buildings index rose 1.0 per cent in the June 2000 quarter.

Higher prices for timber and other building materials have affected the costs of house construction.

The New Zealand dollar depreciated against both the United States dollar and the Japanese yen. The lower New Zealand currency has had an upwards influence on prices paid, in particular the prices for plant, machinery and equipment and on transport equipment. Higher prices for petroleum products have contributed to increased costs of road construction.

Ian Ewing
Deputy Government Statistician

END

http://www.stats.govt.nz

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