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

 


Electricity and dairy prices push up producer prices

Electricity and dairy prices push up producer prices


19 May 2014

Producer prices moved up due to increases in both electricity and dairy prices, Statistics New Zealand said today. Prices received by New Zealand producers, as measured by the output producers price index (PPI), rose 0.9 percent in the March 2014 quarter, and the input PPI, representing the prices of goods and services used by New Zealand producers, rose 1.0 percent.

"The higher prices for electricity generation contributed to both the higher input and output PPIs in the latest quarter,'' prices manager Chris Pike said. "This often happens in March quarters, due to spot-market conditions and low lake levels."

In the March 2014 quarter, the output electricity and gas supply price index rose 14 percent, which contributed more than half of the rise in the output PPI. The input electricity and gas supply price index (up 20 percent) contributed nearly three-quarters of the rise in the input PPI. In the year to the March 2014 quarter, the output electricity and gas supply price index rose 2.8 percent, while that for inputs rose
0.7 percent.

Higher prices for raw milk resulted in an increase in prices received by dairy cattle farmers (up 4.0 percent), and an increase in input prices paid by dairy product manufacturers (up 3.1 percent) in the latest quarter. In the year to the March 2014 quarter, the prices received by the dairy cattle farming industry increased 47 percent, and the prices paid by the dairy product manufacturing industry increased 39
percent.

In the year to the March 2014 quarter, the output PPI was up 4.0 percent, and the input PPI rose 3.1 percent.

For more information about these statistics:

• Visit Producers Price Index: March 2014 quarter

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

ICT Innovation: Six NZ Finalists In World Summit Awards

The awards are a global showcase of 40 projects, across eight categories, with a special emphasis on those which show the benefits of information and communication technology for the development of communities. New Zealand has finalists in six of the eight categories. More>>

ALSO:

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news