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


Consumers Price Index - June 1999 quarter

Consumer Prices Rise in June Quarter

The Consumers Price Index rose by 0.2 per cent in the June 1999 quarter, said Government Statistician Len Cook.

In the previous two quarters, the index fell by 0.3 per cent in March, and by 0.8 per cent in December 1998. Compared with a year earlier, consumer prices were 0.4 per cent lower in the June 1999 quarter. This is the second successive annual fall and the largest decrease since the December 1933 quarter when the index fell by 0.7 per cent from a year earlier.

Excluding credit services, consumer prices rose by 0.5 per cent in the June 1999 quarter. Compared to the June 1998 quarter they were 1.2 per cent higher.

The biggest contributor to the increase in prices this quarter was driver licensing fees, followed closely by a rise in electricity prices. Other main contributors to the increase were stationery supplies and domestic air fares. The largest price falls in the June 1999 quarter came from used cars and mortgage interest.

The household operation index recorded a price increase of 1.1 per cent on the March 1999 quarter, driven by the 3.8 per cent rise in electricity prices. In contrast, credit services were responsible for pushing the index down. The driving force in this group, which fell 2.7 per cent in the June 1999 quarter, was the 2.3 per cent fall in mortgage interest over the same period.

The housing index rose by 0.4 per cent in the June 1999 quarter with home ownership being the main contributor to this increase. The largest upward contributions were recorded for expenses of dwelling purchase and dwelling maintenance services.

Lower food prices contributed significantly to the overall movement of the index. Prices fell by 0.6 per cent from the March to June 1999 quarters. Fruit and vegetable prices fell by 2.8 per cent and grocery food prices by 0.7 per cent from the previous quarter.

Increased prices for stationery supplies pushed up the recreation and education group which increased by 1.2 per cent in the June 1999 quarter. In the September 1999 quarter a revised index will be introduced. The new index base period will be the June 1999 quarter.

The revision includes the updating of the base weights of the index to reflect the changing spending patterns of consumers. These weights indicate the relative importance of items purchased by households.

The revision also includes the removal of interest rates and section prices from the Consumers Price Index. A separate index will be published which includes interest rates. The surveys which collect prices for the index have also been reviewed and a number of them have been updated.

These reviews included the changing of outlets surveyed and commodities priced as well as the method by which the data is collected.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>