Farm Input Prices Rise

Farm Expenses Price Index: June 2002 quarter

Farm Input Prices Rise

The Farm Expenses Price Index rose 1.5 percent in the June 2002 quarter compared with the March 2002 quarter, according to the latest figures from Statistics New Zealand. The index is now 4.5 percent higher than in the June 2001 quarter.

The most significant contributors to the increase in farm input prices in the June 2002 quarter were interest rates, which rose 4.4 percent following a fall of 3.5 percent in the March 2002 quarter, and fuel prices, which rose by 6.2 percent this quarter.

Also contributing to the overall increase was the livestock purchases index, which showed a 1.3 percent increase in the June 2002 quarter compared with the March 2002 quarter. This is the thirteenth consecutive increase for this index.

Brian Pink
Government Statistician
END

© Scoop Media