Higher prices for dairy and livestock pushed up producer prices in the September quarter, Statistics New Zealand said.
The producers price index (PPI) outputs index, measuring prices received by producers, was up 1.2 per cent and the inputs index, measuring the costs of production, excluding labour and depreciation costs, was
up 0.7 per cent.
Output prices for livestock, cropping farming rose 6 per cent, reflecting higher cattle and lamb prices. Product manufacturing prices rose 3.9 per cent due to higher export prices. While prices for dairy cattle farming rose 5.3 per cent, reflecting higher farm-gate milk prices.
Input prices for meat and meat product manufacturing was up 7 per cent, caused by higher livestock prices for cattle and lamb; and prices for dairy product manufacturing was up 4 per cent, reflecting higher farm-gate milk prices.
Output prices rose 4 per cent overall in the year to September, while input prices rose 3.8 per cent.
- NZPA
