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Producer prices fall in June 2014 quarter

Producer prices fall in June 2014 quarter

Producer prices fell in the June 2014 quarter, due to decreases in dairy prices, Statistics New Zealand said today. Prices received by New Zealand producers, as measured by the output producers price index (PPI), fell 0.5 percent in the June 2014 quarter. The input PPI, representing the prices of goods and services used by New Zealand producers, fell 1.0 percent.

"Lower milk prices contributed to decreases in both the input and output PPIs in the June quarter,'' prices manager Chris Pike said.

Lower prices for raw milk led to lower prices received by dairy cattle farmers (down 11 percent), and a decrease in input prices paid by dairy product manufacturers (down 9.4 percent).

In the year to the June 2014 quarter, the prices received by the dairy cattle farming industry increased 19 percent, and the prices paid by the dairy product manufacturing industry increased 16 percent.

In the June 2014 quarter, the output dairy product manufacturing price index fell 2.9 percent, reflecting lower prices for milk powder.

The input electricity and gas supply price index fell 8.4 percent, due to lower prices for electricity generation. Lower electricity prices reflect spot-market conditions, a shift towards geothermal production over thermal (gas-fired) generation, and higher lake levels.

In the year to the June 2014 quarter, the output PPI was up 2.5 percent, and the input PPI rose 1.4 percent.

For more information about these statistics: Visit Producers Price Index: June 2014 quarter

ENDS

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