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

 

NZ producer input, output prices rise in Q4

NZ producer input, output prices rise in Q4 on higher fuel costs

By Tina Morrison

Feb. 20 (BusinessDesk) - New Zealand producer input and output prices rose in the fourth quarter as fuel prices increased.

Prices paid by producers - input prices - rose 0.9 percent in the three months ended Dec. 31, while output prices, or prices received by producers, rose 1 percent, Statistics New Zealand said.

Output prices for the mining industry increased 9.3 percent, influenced by higher crude oil prices received by gas and oil extraction producers, Stats NZ said. Input prices paid by petroleum and coal product manufacturers rose 12 percent, influenced by higher imported crude oil prices.

"Higher crude oil prices led to increased costs for many industries, including petroleum, forestry and logging, transport, construction, and farming,” business prices manager Sarah Williams said.

Producer output prices were mainly influenced by dairy product manufacturers, up 5.3 percent due to prices rises for butter, cheese and whole milk powder, Stats NZ said. On an annual basis, dairy product manufacturing prices lifted 25 percent.

In the latest quarter, producer outputs and input prices for meat and meat product manufacturing rose to new highs, Stats NZ said. Output prices rose 4 percent due to higher export sheep and lamb prices while input prices lifted 2.6 percent influenced by higher livestock sheep prices.

On an annual basis, meat and meat product manufacturing output prices rose 12 percent and input prices rose 14 percent, the agency said.

(BusinessDesk)

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Land Report: Issues With Soil Degradation

An environmental report released today has found we are damaging and losing our soils and our native plants and animals. More>>

ALSO:

Water Quality Report: Cause For Optimism

National River Water Quality Trends released by Land, Air, Water Aotearoa (LAWA) this week, reveal that for all river water quality parameters monitored over a 10 year period, more sites were improving than deteriorating. More>>

ALSO:

IMF Report On NZ: Positive Economic Outlook

Minister of Finance Grant Robertson has welcomed the IMF’s Concluding Statement, released following its annual visit, which provides an independent assessment of the strength of the New Zealand economy. More>>

ALSO:

Retail Power Price: Review Panel Named

The Energy and Resources Minister Megan Woods has released the details of who will sit on an expert advisory panel which is tasked with leading a review into the price of electricity in New Zealand. More>>

ALSO:


Increasingly Disruptive Threats: Govt Cyber Security Refresh

Broadcasting, Communications and Digital Media Minister Clare Curran today announced a comprehensive refresh of New Zealand’s approach to cyber security. More>>

ALSO:


Regional Growth: Action Plan To Modernise Taranaki’s Economy

The Provincial Growth Fund (PGF) will invest up to $20 million to help future-proof the Taranaki region by diversifying its economy, creating additional jobs and leveraging off the strong base the region has established through its oil, gas and agricultural ... More>>

ALSO:

Winding Down Irrigation: Funding Ends For Crown Irrigation Investment

The Government has begun winding down public funding for large-scale irrigation through Crown Irrigation Investments Limited (CIIL), in line with the Coalition Agreement and the Confidence & Supply Agreement. More>>

ALSO: