Quarterly PPI figures for NZ in the April to June quarter

PPI Input (measures the change in the price of goods and raw materials purchased by manufacturers): up 1.4% q/q

  • prior was +2.2%
  • For the y/y, +4.7%

PPI Output (measures the change in the price of goods sold by manufacturers): up 1.3% q/q

  • prior was +2.4%
  • For the y/y result, +5.2%

Notes via Stats NZ:

  • In the June quarter, producer input prices also rose, mainly influenced by dairy product manufacturing prices (up 4.6 percent), while meat product manufacturing prices were up 6.5 percent.
  • Both input and output prices for electricity and gas supply rose in the June quarter (up 8.5 percent and 6.9 percent respectively).
  • These increases were influenced by higher prices for electricity generation, partly arising from a dry winter.
  • Higher output prices for electricity lead to higher input costs for other industries.
  • The capital goods price index (CGPI) rose 3.2 percent, influenced by higher prices for residential and non-residential buildings (up 5.8 percent and 5.5 percent respectively). The farm expenses price index rose 1.1 percent.

In the 'preview' to this I noted it was unlikely to have much immediate impact on the currency. Yep.