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

 

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news