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

 


CPI up 0.7 percent for the year - Statistics NZ

CPI up 0.7 percent for the year – Media release

16 July 2013

The consumers price index (CPI) increased 0.7 percent from the June 2012 quarter to the June 2013 quarter, Statistics NZ said today.

"This annual increase is the lowest since 1999, and the fourth annual increase in a row below 1 percent," prices manager Chris Pike said.

The annual CPI increase included a rise of 0.2 percent for the June 2013 quarter. "There were increases in electricity and housing-related prices, countered by lower petrol and motor car prices," Mr Pike said.

In the June 2013 quarter, electricity prices rose 2.6 percent. Vegetable prices (up 7.0 percent) were influenced by seasonal price rises for tomatoes and lettuce. The purchase of newly built houses (up 1.7 percent) and housing rentals (up 0.4 percent) were influenced by rises in both the North and South islands. The strongest of these housing-related price rises were in Canterbury, with purchase of newly built houses up 2.9 percent and housing rentals up 1.1 percent. Dwelling insurance (up 9.9 percent) also rose.

Countering these rises, petrol prices fell 2.5 percent in the June 2013 quarter, and were at their lowest level since the September 2011 quarter. Fruit prices fell 4.5 percent, influenced by seasonally lower prices for apples and kiwifruit. Both second-hand car prices (down 1.9 percent) and new car prices (down 1.0 percent) also fell.

The key contributor to the annual increase of 0.7 percent was higher cigarette and tobacco prices (up 12 percent), reflecting a rise in excise duty on 1 January 2013. Housing rentals (up 2.1 percent) and purchase of newly built houses (up 4.1 percent) were influenced by price rises in the South Island, particularly Canterbury. Electricity (up 3.4 percent) and local authority rates (4.3 percent) also increased in the year to the June 2013 quarter. These increases were partly offset by decreases for petrol (down 2.8 percent), telecommunication services (down 4.9 percent), domestic air fares (down 12 percent), and audio-visual equipment (down 14 percent).

The CPI measures the rate of price change of goods and services purchased by New Zealand households. Statistics NZ visits 3,000 shops across New Zealand to collect prices for the CPI and check product sizes and features.

For more information about these statistics:
-Visit Consumers Price Index: June 2013 quarter

-http://img.scoop.co.nz/media/pdfs/1307/ConsumersPriceIndexJun13qtr.pdf

-http://img.scoop.co.nz/media/pdfs/1307/cpijun13alltables.xls

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Floods: Initial Assessment Of Economic Impact

Authorities around the region have compiled an initial impact assessment for the Ministry of Civil Defence, putting the estimated cost of flood recovery at around $120 million... this early estimate includes social, built, and economic costs to business, but doesn’t include costs to the rural sector. More>>

ALSO:

Food: Govt Obesity Plan - No Tax Or Legislation

Speaking to Q+A’s Corin Dann this morning, health minister Jonathan Coleman said tackling obesity was at the top of the Government’s priority list, but there was “no evidence” a sugar tax worked, and further regulation was unnecessary. More>>

ALSO:

Treasury Docs On LVR Policy: Government Inaction Leads To Blurring Of Roles

The Treasury wouldn’t have had to warn the Reserve Bank to stick to its core functions if the Government had taken prompt and substantial measures to rein in skyrocketing Auckland house prices, Labour’s Finance spokesperson Grant Robertson says. More>>

ALSO:

Final EPA Decision: Tough Bar Set For Ruataniwha Dam

Today’s final decision by the Tukituki Catchment Board of Inquiry is good news for the river and the environment, says Labour’s Water spokesperson Meka Whaitiri. “Setting a strict level of dissolved nitrogen in the catchment’s waters will ensure that the dam has far less of an impact on the Tukituki river." More>>

ALSO:

"Don’t Give Up":
End Of Kick-Start Hits KiwiSaver Enrolments

ANZ said new enrolments for the ANZ KiwiSaver Scheme had dropped by more than 50% since the Government announced an immediate end to the $1,000 KiwiSaver kick-start incentive in the Budget last month. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news