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

 


Transport Prices Push Up CPI

Consumers Price Index: June 2001 Quarter

The Consumers Price Index (CPI) rose by 0.9 per cent in the June 2001 quarter, according to Statistics New Zealand. This follows a fall of 0.2 per cent in the March quarter.

The increase of 0.9 per cent was strongly influenced by higher prices for petrol and international airfares. Together, these two items accounted for over half of the June quarter CPI increase.

Transport prices rose 2.9 per cent, reflecting increases in both private transport (up 2.2 per cent) and public transport (up 5.3 per cent). Private transport prices were influenced mainly by a 6.4 per cent rise in petrol prices, which have increased by 36.9 per cent over the past two years. The increase in public transport prices was driven by higher international airfares (up 7.9 per cent in the June quarter). There is a traditional seasonal demand for overseas travel at this time of the year.

Food prices also contributed strongly to the overall CPI movement in June 2001, increasing by 0.8 per cent. The most significant contribution to this movement came from a 3.9 per cent increase in milk prices. A downward contribution came from lower fruit and vegetable prices (down 2.8 per cent in the quarter). After the removal of seasonal effects, tomato and apple prices fell 18.7 per cent and 19.7 per cent, respectively.

Recreation and education prices recorded an increase of 0.7 per cent and were strongly influenced by a 17.6 per cent rise in the price of stationery. Stationery prices traditionally rise in this quarter after the customary 'back to school specials' in the March quarter. Housing prices rose 0.2 per cent (mainly due to increased dwelling insurance), personal and health care was up 0.7 per cent (mainly due to higher personal care and medical service costs), apparel up 0.9 per cent (both clothing and footwear), tobacco and alcohol rose 0.3 per cent and household operation prices recorded an increase of 0.1 per cent. Credit services prices fell, by 5.0 per cent, mainly due to a lowering of loan application fees.

On an annual basis, the CPI is 3.2 per cent higher than a year ago. This is the seventh consecutive annual increase in the index.

Brian Pink Government Statistician

END


© 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>>

ALSO:

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>>

Earlier:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news