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Farm Expenses Price Index Unchanged

Farm Expenses Price Index Unchanged

The Farm Expenses Price Index showed no change in the December 2002 quarter compared with a 0.5 increase in the September 2002 quarter, according to Statistics New Zealand. This follows 13 consecutive quarterly increases since the September 1999 quarter. On an annual basis, farm input prices rose 3.6 percent from the December 2001 quarter to the December 2002 quarter.

Excluding livestock, input prices rose 0.6 percent in the December 2002 quarter. The most significant upward contribution came from local and central government rates and fees, which rose 4.4 percent in the December 2002 quarter. This was mainly due to property revaluations in some areas.

The most significant downward contribution to farm input prices this quarter came from a 3.0 percent decrease in the livestock purchases index, reflecting lower prices for deer, cattle and calves. This is the second consecutive fall in the livestock purchases index, following a fall of 1.0 percent in the September 2002 quarter.

Brian Pink

Government Statistician

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