Producers' input and output prices rose in the September quarter from June for the fourth and third consecutive quarters, respectively, Statistics New Zealand said today.
Output prices rose 1.2% over the quarter, up from 1.1% in June, but down from 1.8% in the March quarter. Output prices had fallen over the whole of 2009.
Input prices rose 0.7% in the September quarter, from 1.4% in June. input prices have been rising since the December 2009 quarter, after four quarters of falls or being stagnant.
Both rises were led by higher prices for dairy and livestock, Stats NZ said.
Here is the release from Stats NZ:
Producers’ output and input prices rose in the September 2010 quarter, Statistics New Zealand said today.
Both indexes were strongly influenced by higher prices for dairy and livestock.
The producers price index measures changes in prices received by producers (known as output prices), and changes in the costs of production, excluding labour and depreciation costs (known as input prices).
Key influences on the outputs index, which was up 1.2 percent in the September 2010 quarter, were the:
- 6.0 percent rise for livestock and cropping farming, reflecting higher cattle and lamb prices
- 3.9 percent rise for dairy product manufacturing, reflecting higher export prices
- 5.3 percent rise for dairy cattle farming, reflecting higher farm-gate milk prices.
Together, the livestock cropping and farming, dairy product manufacturing, and dairy cattle farming indexes contributed 38 percent of the overall 1.2 percent rise in output prices in the September 2010 quarter.
Key influences on the inputs index, which was up 0.7 percent in the September 2010 quarter, were the:
- 7.0 percent rise for meat and meat product manufacturing, reflecting higher livestock prices for cattle and lamb
- 4.0 percent rise for dairy product manufacturing, reflecting higher farm-gate milk prices.
Together, the meat and meat product manufacturing and the dairy product manufacturing indexes contributed 67 percent of the overall 0.7 percent increase in the inputs index in the September 2010 quarter.
Output prices rose 4.0 percent overall in the year to the September 2010 quarter, while input prices rose 3.8 percent.
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