Capital Goods Prices Rise

Capital Goods Price Index: September 2001 quarter

Capital Goods Prices Rise

Capital goods prices rose 0.3 per cent in the September 2001 quarter according to Statistics New Zealand.

The main contribution to the all groups index came from a 1.8 per cent rise in the index for other construction. This rise was mainly driven by higher prices for the construction of transport ways (roads and railways), which showed an increase of 4.7 per cent.

Other upward contributions to the all groups index came from a 0.2 per cent increase in the residential buildings index and a 0.3 per cent increase in the non-residential buildings index.

The indexes for transport equipment as well as plant, machinery and equipment showed no change during the quarter. Upward contributions made to the plant, machinery and equipment index by other special purpose machinery for printing purposes were offset by downward movements in the prices of machinery for food, beverage and tobacco processing.

This is the eleventh consecutive quarter for which an annual increase has been recorded in the Capital Goods Price Index. The index is now 3.0 per cent higher than in the September 2000 quarter.

Brian Pink Government Statistician END

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