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Producers' Output Prices Fall 0.1 Percent

Producers' Output Prices Fall 0.1 Percent

Producers' output prices fell 0.1 percent while input prices rose 0.3 percent in the December 2002 quarter, according to Statistics New Zealand's Producers Price Index (PPI).

The most significant contributions to the 0.1 percent fall in output prices came from the dairy product manufacturing index (down 4.7 percent), primarily influenced by lower prices for other dairy products (excluding milk, cream and ice cream); and the meat and meat product manufacturing index (down 3.6 percent). The overall fall in the PPI outputs index was partly offset by rises in the wholesale trade index (up 1.0 percent), and the petroleum, coal and basic chemical manufacturing index (up 4.0 percent).

The 0.3 percent rise in input prices was driven by the other food manufacturing index (up 2.3 percent), resulting from higher wheat flour prices; and a 0.6 percent rise in the wholesale trade index. The overall increase in the PPI inputs index was partly dampened by falls in the meat and meat product manufacturing index (down 1.5 percent); and the electricity generation and supply index (down 1.0 percent).

Brian Pink

Government Statistician

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