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Consumers Price Index: September 2005 Quarter

Consumers Price Index: September 2005 Quarter

Petrol Pushes up CPI

The Consumers Price Index (CPI) increased 1.1 percent in the September 2005 quarter, Statistics New Zealand said today. The most significant contributions to the increase came from higher prices for transportation and housing.

Transportation prices were up 3.5 percent in the September 2005 quarter, with the most significant increases coming from petrol (up 13.1 percent) and international air travel (up 3.0 percent). If petrol prices had not changed from the June 2005 quarter to the September 2005 quarter, the CPI would have increased 0.7 percent.

Housing prices increased 1.6 percent in the September 2005 quarter, mainly due to price increases for local authority rates (up 6.2 percent), and the purchase and construction of new dwellings (up 1.0 percent).

Over the 12 months to the September 2005 quarter, the CPI rose 3.4 percent. The most significant price rises were for petrol (up 20.3 percent), and the purchase and construction of new dwellings (up 6.6 percent). Significant price falls came from international air travel (down 5.1 percent) and fresh vegetables (down 11.8 percent). Further, if prices for petrol had remained unchanged from the September 2004 quarter to the September 2005 quarter, the CPI would have increased 2.7 percent.

In the September 2005 quarter, the non-tradable component (up 1.1 percent) made the largest contribution to the CPI all groups movement. The tradable component increased 1.1 percent in the quarter.

Brian Pink
Government Statistician

ENDS

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