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Purchase price of new capital rises 0.6 percent
Purchase price of new capital rises 0.6 percent
19 May 2014
In the March 2014 quarter, the price of purchasing new capital items rose 0.6 percent, Statistics New Zealand said today. Five of six asset groups measured by the capital goods price index (CGPI) rose.
The major upward contributions to the CGPI came from:
• the residential
buildings price index (up 1.1 percent)
• the
non-residential buildings price index (up 0.8
percent).
The rises in the March 2014 quarter were offset by a decrease in the price index for transport equipment (down 0.4 percent). The appreciating New Zealand dollar against most key currencies influenced this price change.
In the year to the March 2014 quarter, the CGPI rose 2.1 percent. The increases for residential buildings (up 4.6 percent) and non-residential buildings (up 3.5 percent) were the highest since 2008.
The CGPI measures the change in the purchase price of new capital goods used by New Zealand producers.
For more information about these statistics:
• Visit Capital Goods Price Index: March 2014 quarter
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