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

 

21, 22, 23 December: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>

ALSO:

24/7: National Geohazards Monitoring Centre Opens

For the first time, New Zealand will have 24-7 “eyes on” monitoring of the four perils: earthquake, tsunami, landslides and volcanic activity. More>>

ALSO:

EU Wine Exports: Yealands Fined For "Unprecedented Offending"

Yealands Estate Wines has pleaded guilty to “unprecedented offending” under the Wine Act 2003 and has copped a $400,000 fine. More>>

ALSO:

Discussion Paper: Govt To Act On Unfair Commercial Practices

“I’ve heard about traders who have used aggressive tactics to sell products to vulnerable consumers, and businesses that were powerless to stop suppliers varying the terms of their contract, including price.” More>>

ALSO:

'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>

ALSO: