The New Zealand PPI (Producer Price Index) includes both inputs (such as raw materials, energy, and labor) and outputs (such as goods and services produced).
PPI Inputs +0.5%
- prior + 0.8%
PPI Outputs +0.9%
- prior + 1.6%
---
The PPI is published quarterly by Statistics New Zealand.
It covers three main sectors of the economy:
- agriculture, forestry, and fishing;
- mining;
- and manufacturing
The PPI can give insight into inflationary pressures in the economy
- an increasing PPI indicates that producers are facing higher costs which they may pass on to consumers in the form of higher prices, which can have a knock-on impact on downstream pricing, that is higher consumer level inflation. Which, of course, can trigger an RBNZ monetary policy response.
- a falling PPI is vice versa
---
The RBNZ meet on Wednesday this week, statement due at 0100 GMT, which is 8pm US Eastern time on Tuesday, 21 February 2023.
