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


Higher fuel and power push up producer prices

Higher fuel and power push up producer prices

17 August 2016

Producer prices rose in the June 2016 quarter, due to higher fuel and electricity prices, Statistics New Zealand said today.

The input prices (costs paid) for the petroleum and coal product manufacturing industry rose 22 percent in the June 2016 quarter, due to higher international prices for crude oil. This follows falls of 22 percent in both the March and December quarters.

"Despite the June quarterly increase in costs paid by fuel manufacturers, fuel prices have fallen by about half since mid-2012," business prices manager Sarah Williams said.

The June quarter fuel price rise contributed to higher input and output prices in the mining industry. Higher fuel prices also led to higher input prices for other industries, including transport, construction, and farming.

Output prices (prices received) for the electricity and gas supply industry rose 1.9 percent in the June 2016 quarter, due to higher retail electricity prices. Prices often rise in June quarters, reflecting higher seasonal demand in the winter months. The input prices for this industry fell 0.3 percent, influenced by lower electricity generation prices.

In the June year, input and output prices for the electricity and gas supply industry increased following five consecutive annual falls.

See Business Price Indexes: June 2016 quarter for more information.

For more information about these statistics:
• Visit Business Price Indexes: June 2016 quarter


© Scoop Media

Business Headlines | Sci-Tech Headlines


Fish & Game Support: Canterbury Officer Of Health Warns On Nitrates In Water

"Nitrate testing of 114 drinking water samples from across the Canterbury plains showed that more than half of them were above the level considered safe in the world's largest ever study on the impacts of nitrates in drinking water." More>>


Partnerships Investment Round: Government Invests In Cancer Research, Pines, Ryegrass

The Government will invest $14.4 million into transformative new scientific research programmes including cutting-edge cancer treatment and vertical farming, Research, Science and Innovation Minister Megan Woods announced today. More>>


Stats: Net Migration Remains High

“Since late 2014, annual net migration has ranged between 48,000 and 64,000,” population indicators manager Tehseen Islam said. “The only previous time net migration was at these levels was for a short period in the early 2000s.” More>>


Retail: Costco To Open First NZ Store At Westgate In Auckland

American multi-national discount store operator Costco Wholesale is planning to open its first New Zealand store at the Westgate shopping centre in Auckland’s north-west. More>>


RNZ Report: Fungal Disease Claims Life Of Seventh Kākāpō

A seventh kākāpō being treated for the respiratory disease aspergillosis has died. Nora 1-A was just over 100 days old and was the sickest of the kākāpō being treated at the New Zealand Centre Conservation Medicine at Auckland Zoo. More>>