Farm Input Prices Rise
Farm Expenses Price Index: March 2002 quarter
The Farm Expenses Price Index rose 1.6 percent in the March 2002 quarter, compared with the December 2001 quarter, according to the latest figures from Statistics New Zealand. The index is now 4.8 percent higher than in the March 2001 quarter.
A 10.9 percent rise in livestock prices contributed significantly to the overall increase in farm input prices in the March 2002 quarter. This is the twelfth consecutive quarterly increase in the livestock purchases index, which is now 84.0 percent higher than in the March 1999 quarter. When livestock prices are excluded, farm input prices fell 0.2 percent in the March 2002 quarter, compared with the previous quarter.
The overall increase in farm input prices was dampened by a 3.5 percent decrease in interest rates.