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Capital goods prices up 0.7 percent

Capital goods prices up 0.7 percent

In the June 2014 quarter, the price of purchasing new capital items rose 0.7 percent, Statistics New Zealand said today. Four 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 1.3 percent)
• the non-residential buildings price index (up 1.1 percent).

The rises in the June 2014 quarter were partly offset by a fall in the price index for plant, machinery, and equipment (down 0.3 percent). The New Zealand dollar's appreciation against most of our key trading currencies influenced this price change.

In the year to the June 2014 quarter, the CGPI increased 2.2 percent. The increases for residential buildings (up 4.5 percent) and non-residential buildings (up 4.2 percent) were the main contributors to the change.

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: June 2014 quarter

ENDS

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