Dairy prices push up producer prices
Prices received by New Zealand producers, as measured by the output producers price index (PPI), rose 1.0 percent in the June 2013 quarter, Statistics New Zealand said today.
The input PPI, representing the prices of goods and services used by New Zealand producers, rose 0.6 percent in the June 2013 quarter.
Higher dairy prices contributed to increases in both the output and input PPI, prices manager Chris Pike said.
The output price index for dairy product manufacturing rose 14 percent in the June 2013 quarter. The latest increase was influenced by higher export prices for milk powder. The input price index for dairy product manufacturing increased 8.6 percent, reflecting higher milk prices paid to dairy farmers.
The output price index for dairy cattle farming rose 9.0 percent, influenced by higher milk prices received by dairy farmers.
In the year to the June 2013 quarter, the output PPI was up 0.8 percent, while the input PPI was unchanged.