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Capital Goods Price Index Rises 0.6 Percent


Capital Goods Price Index Rises 0.6 Percent

Capital goods prices rose 0.6 percent in the March 2005 quarter compared with the December 2004 quarter, Statistics New Zealand said today. On an annual basis, the Capital Goods Price Index increased 3.6 percent in the year to the March 2005 quarter.

The most significant contribution to the overall increase for the March 2005 quarter came from a 1.5 percent increase in the residential buildings index. This is the tenth consecutive quarter in which the residential buildings index has been the most significant upward contributor to the CGPI.

Another significant upward contribution in the March 2005 quarter came from the other construction index, which increased 1.6 percent. Higher prices for construction components were seen by respondents as the dominant driver for the price changes recorded this quarter for both the residential buildings index and the other construction index.

The plant, machinery and equipment index decreased 0.3 percent in the March 2005 quarter, its thirteenth successive quarterly fall. A 1.2 percent fall in the computer machinery index was the most significant contributor to the decrease recorded in this index in the March 2005 quarter.

Change in exchange rates was the factor respondents most commonly cited for price decreases this quarter within the plant, machinery and equipment sub-indexes.

Brian Pink

Government Statistician

END


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