Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Petrol and Construction Prices Drive CPI Up 0.8 %

Petrol and Construction Prices Drive CPI Up 0.8 Percent


The Consumers Price Index (CPI) increased by 0.8 percent in the June 2004 quarter, according to Statistics New Zealand. The housing group made the most significant upward contribution to the CPI, with prices rising 1.4 percent. The increase in the June 2004 quarter also reflects higher prices for petrol and electricity.

The rise in the housing group in the June 2004 quarter was mainly due to higher prices for the purchase and construction of new dwellings, which increased by 1.9 percent and are now 8.8 percent higher than a year ago.

Transportation prices rose 1.4 percent in the June 2004 quarter, mainly driven by a 7.8 percent increase in petrol prices.

Household operation prices rose by 0.6 percent in the June 2004 quarter, mainly due to higher electricity prices, which increased by 2.8 percent. Prices for electricity are now 10.4 percent higher than a year ago.

From the June 2003 quarter to the June 2004 quarter, the CPI increased by 2.4 percent. Significant upward contributions to the annual change came from construction prices (up 8.8 percent) and petrol (up 19.1 percent). These increases were partly offset by lower prices for international air travel (down 21.2 percent).

Brian Pink

Government Statistician

END


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>