Civil construction pushes up capital goods prices
The capital goods price index (CGPI) rose by 0.5 percent in the June 2011 quarter, Statistics New Zealand said today.
Prices associated with infrastructure projects, such as roading, pushed the civil construction price index up 2.8
percent in the June 2011 quarter and by 5.3 percent on an annual basis.
Prices related to the construction of non-residential buildings showed a move upwards, increasing by 0.6 percent in the
June 2011 quarter. Prices for the construction of residential buildings also rose, up 0.8 percent for the latest quarter
and 1.1 percent when compared with the previous June quarter.
The price index for plant, machinery, and equipment was down 0.6 percent on a quarterly basis and by 2.5 percent on an
annual basis. The largest contributor to this decrease was the price index for computer equipment, which decreased by
5.6 percent on a quarterly basis and by 14.3 percent on an annual basis.
In the year to the June 2011 quarter, the overall CGPI increased 0.4 percent.
The CGPI measures the change in the price of capital goods purchased by New Zealand producers of goods and services,
such as businesses, government, and households.