Celebrating 25 Years of Scoop
Special: Up To 25% Off Scoop Pro Learn More

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

 

NZ producer prices rise more than expected

NZ producer prices rise more than expected, pointing to inflation pressures

Nov. 18 (BusinessDesk) – New Zealand producer input and output prices rose more than expected in the third quarter, suggesting inflationary pressures are beginning to stir in the domestic economy.

Producer input prices rose 0.7%in the three months ended Sept. 30, compared to the second quarter, while output prices climbed 1.2%, according to Statistics New Zealand. Inputs were seen rising 0.5% and outputs by 0.6%, according to a Reuters survey.

Input prices have now gained for four straight quarters and were driven by higher livestock prices for lamb and cattle and by higher farm-gate prices for milk, as were output prices in the latest quarter. Meat and dairy made up 67% of the gain in input prices in the three months ended Sept.30.

The New Zealand dollar rose to 77 U.S. cents from 76.91 cents immediately before the figures were released. Traders expect the Reserve Bank to raise the official cash rate by about 78 basis points over the next 12 months, based on the Overnight Index Swap curve.

(BusinessDesk)

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.