New Zealand Quarterly PPI figures for Q2

PPI Input: -1.0% q/q

  • prior was +1.0%
  • Measures the change in the price of goods and raw materials purchased by manufacturers

PPI Output: -0.5% q/q

  • prior was +0.9%
  • Measures the change in the price of goods sold by manufacturers

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Stats NZ says:

  • “Lower milk prices contributed to decreases in both the input and output PPIs in the June quarter,” prices manager Chris Pike said.
  • Lower prices for raw milk led to lower prices received by dairy cattle farmers (down 11 percent), and a decrease in input prices paid by dairy product manufacturers (down 9.4 percent).
  • The input electricity and gas supply price index fell 8.4 percent, due to lower prices for electricity generation. Lower electricity prices reflect spot-market conditions, a shift towards geothermal production over thermal (gas-fired) generation, and higher lake levels.