Farm Expenses Price Index Unchanged

Thursday, 26 February 2004, 11:10 am
Press Release: Statistics New Zealand

The Farm Expenses Price Index (FEPI) including livestock showed no change in the December 2003 quarter, following a 0.4 percent decrease in the September 2003 quarter. The FEPI registered a 2.6 percent fall between the December 2002 and December 2003 quarters.

The most significant upward contributor in the December 2003 quarter came from a 2.2 percent rise in the index for central and local government rates and fees. Other upward contributions came from the index for shearing (up 1.7 percent) and the repairs, maintenance and motor vehicle repairs index (up 0.5 percent).

The major downward contributor to the FEPI in the December 2003 quarter was a 0.9 percent decrease in the index for livestock purchases, reflecting lower prices for cattle, pigs and deer.

Other downward movements included a 1.0 percent fall in the fertiliser, lime and seeds index, and a 0.7 percent decrease in the interest rates index.

Excluding livestock, the FEPI rose 0.2 percent in the December 2003 quarter.

Brian Pink

Government Statistician

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