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


Surging power, gas costs drive gain in 2Q producer prices

Surging power, gas costs drive increase in 2Q producer prices

Aug. 17 (BusinessDesk) - New Zealand producer input and output prices rose in the second quarter, led by electricity and gas, reflecting low hydro lake levels and conditions in the spot market for power, government figures show.

Prices paid by producers rose 0.6 percent in the three months ended June 30, accelerating from a 0.3 percent pace in the first quarter, according to Statistics New Zealand. Prices received by producers, or output prices, climbed 0.3 percent, following a 0.1 percent decline in the first three months of the year.

Electricity and gas prices were the biggest contributor to input prices, rising 8.2 percent in the latest quarter for an annual increase of 27 percent. Electricity and gas output prices gained 10.7 percent in the latest quarter.

Input prices for dairy manufacturing fell 4.7 percent in the latest quarter and dropped 13.9 percent in the year, the biggest decline since the third quarter of 2009, while the input price index for meat manufacturing fell 4.6 percent, reflecting lower prices for sheep, lamb and beef.

The output price index for property and real estate services rose 1.7 percent in the quarter, the biggest increase since the series began in 1994, led by rental prices for office space.

The output price index for agriculture, forestry and fishing fell 2.1 percent, led by a 6.9 percent drop in the output price index for dairy cattle, which reflected lower farm-gate milk prices. The output price index for mining fell 3.5 percent, reflecting lower prices for exported crude oil.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Civil Contractors: Massive Rebound In Civil Construction Business Confidence

New Zealand’s civil construction industry is riding a massive rebound in post-pandemic business confidence – but this may be undermined by skills shortages, which continue to be the industry’s number one challenge... More>>

Energy: Feeling Our Way Towards Hydrogen - Tina Schirr

Right now hydrogen is getting a lot of attention. Many countries are focusing on producing hydrogen for fuel, or procuring it, or planning for its future use... More>>

Maritime Union: Calls For New Zealand Shipping To Resolve Supply Chain Crisis

The Maritime Union says there needs to be innovative responses to ongoing shipping congestion. Maritime Union of New Zealand National Secretary Craig Harrison says it is essential that New Zealand develops its own shipping capacity... More>>

Housing: New Home Consents Continue To Break Records

A record 44,299 new homes were consented in the year ended June 2021, Stats NZ said today. “The annual number of new homes consented rose again in the June 2021 year, the fourth consecutive month of rises,” construction statistics manager Michael Heslop said... More>>

Real Estate: June Home Transfers Remain High
There were 44,517 home transfers in the June 2021 quarter, the highest June quarter figure since 2016, Stats NZ said today. The number of home transfers was very similar to the March 2021 quarter and was up 18,252 from the June 2020 quarter... More>>

Statistics: Household Saving Falls In The March 2021 Quarter

Saving by New Zealanders in the March 2021 quarter fell to its lowest level in two years after rising sharply in 2020, Stats NZ said today. Increases in household spending outpaced income growth, leading to a decline in household saving from the elevated levels that prevailed throughout 2020... More>>