Producers' Output Prices Fall 0.1 Percent
Producers' output prices fell 0.1 percent while input prices rose 0.3 percent in the December 2002 quarter, according to
Statistics New Zealand's Producers Price Index (PPI).
The most significant contributions to the 0.1 percent fall in output prices came from the dairy product manufacturing
index (down 4.7 percent), primarily influenced by lower prices for other dairy products (excluding milk, cream and ice
cream); and the meat and meat product manufacturing index (down 3.6 percent). The overall fall in the PPI outputs index
was partly offset by rises in the wholesale trade index (up 1.0 percent), and the petroleum, coal and basic chemical
manufacturing index (up 4.0 percent).
The 0.3 percent rise in input prices was driven by the other food manufacturing index (up 2.3 percent), resulting from
higher wheat flour prices; and a 0.6 percent rise in the wholesale trade index. The overall increase in the PPI inputs
index was partly dampened by falls in the meat and meat product manufacturing index (down 1.5 percent); and the
electricity generation and supply index (down 1.0 percent).
Brian Pink
Government Statistician