Capital goods prices up 1.0 percent

Capital goods prices up 1.0 percent

19 February 2015

In the December 2014 quarter, the price of purchasing new capital items rose 1.0 percent, Statistics New Zealand said today. Five of six asset groups measured by the capital goods price index (CGPI) rose, and one remained unchanged.

The major upward contributions to the CGPI came from higher prices for:

• residential buildings (up 1.8 percent)
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• plant, machinery, and equipment (up 0.8 percent).
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The price rise for plant, machinery, and equipment was influenced by the depreciating New Zealand dollar.

In the year to the December 2014 quarter, the CGPI increased 2.8 percent. The increase for residential buildings (up 5.3 percent) was the main contributor to the change. Partly offsetting the increases was a decrease in transport equipment prices (down 0.5 percent).

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: December 2014 quarter

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