Producer input prices fall on power, crude oil

Monday 16th February 2009

New Zealand producer input prices fell for the first time in seven quarter on lower costs for electricity, crude oil and air transport.

Producer input prices fell 2.2% in the fourth quarter of 2008 and were 9.7% higher than in the same year-earlier period, according to Statistics New Zealand.

Producer output prices rose 1.4% and were 9.9% higher in the year, led by a jump in prices for dairy products.

By Jonathan Underhill

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