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

 


CPI rises 1.1 percent in September quarter

CPI rises 1.1 percent in September quarter

The consumers price index (CPI) rose 1.1 percent for the September 2010 quarter, Statistics New Zealand said today. "The September quarter rise in consumer prices reflects higher food prices and higher central and local government charges, some of which usually occur at this time of year," Statistics New Zealand's prices manager Chris Pike said.

The CPI measures the rate of price change of goods and services purchased by households.

The food group rose 2.4 percent in the September 2010 quarter, with higher prices for vegetables (up 19.7 percent) and milk, cheese, and eggs (up 5.2 percent).

The housing and household utilities group rose 1.4 percent, with local authority rates rising 4.4 percent and electricity prices rising 2.8 percent. About one-quarter of the electricity increase was due to retailers charging 15 percent GST on electricity consumed in the September month and invoiced in October.

The alcoholic beverages and tobacco group rose 2.3 percent, reflecting higher cigarette and tobacco prices (up 4.0 percent), and alcoholic beverage prices (up 1.6 percent). Both increases were affected by increases in excise duty.

The transport group rose 1.0 percent with prices for 'other private transport services' up 8.4 percent, influenced by increases in vehicle relicensing and driver licensing fees. Petrol prices fell 1.3 percent.

The CPI rose 1.5 percent for the year to the September 2010 quarter. This annual increase is the lowest since the year to the March 2004 quarter.

In the year to the September 2010 quarter, transport prices rose 3.7 percent, reflecting higher petrol prices (up 5.8 percent). Housing and household utility prices rose 2.4 percent. The most significant downward contribution came from a fall of 24.6 percent for audio-visual equipment, which is the largest annual decrease since the series began in the June 1999 quarter.

Statistics NZ visits 3,000 shops around New Zealand to collect prices for the CPI and check product sizes and features.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>


Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news