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Producers Output Prices Rise

Producers Output Prices Rise

Output prices for all industries in the Producers Price Index (PPI) rose 0.1 percent in the March 2003 quarter, according to latest figures released by Statistics New Zealand.

Input prices for all industries in the PPI showed no change in the March 2003 quarter. In the year to the March 2003 quarter, the PPI outputs index fell by 0.4 percent, and the PPI inputs index fell by 1.3 percent.

The most significant contributions to the 0.1 percent rise in the PPI outputs index came from the electricity generation and supply index, which showed a 12.9 percent increase.

This was primarily due to higher prices for electricity generation. The business services index (up 1.2 percent) was another major contributor, rising mainly due to higher legal fees.

Partially offsetting the overall rise in output prices was the livestock and cropping farming index, which fell by 8.6 percent, driven by lower prices for sheep and cattle.

The electricity generation and supply index made the most significant upward contribution to the PPI inputs index.

Lower lake levels from drier weather caused the electricity generation and supply index to rise by 18.6 percent.

The major downward contribution to the PPI inputs index over the same period came from the meat and meat product manufacturing index, which fell by 8.6 percent, reflecting lower prices for cattle, sheep and pigs.

Another downward contributor was the wholesale trade index, which fell 1.7 percent due to lower prices for wool and livestock.

Brian Pink

Government Statistician

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