Producer input prices in New Zealand decreased 1 percent on quarter in the three months to June 2020, following a 0.3 percent drop in the prior period. It was the biggest decline in producer input prices since the first quarter of 2016, mostly due to a drop in cost of crude oil as fewer people travelled by air or road during the coronavirus lockdowns. Cost of manufacturing fell further (-4.0 percent vs -1.2 percent in Q1), mainly dragged by a 34 percent drop in petroleum & coal manufacturing (vs 0.2 percent). Also, prices dropped for mining (-4.8 percent vs 0.6 percent), construction (-0.3 percent vs 0.3 percent), and transport, postal and warehousing services (-4.0 percent vs 0.3 percent). In contrast, prices for utilities rebounded 3.4 percent after falling a sharp 4 percent. Output prices declined 0.3 percent after edging up 0.1 percent in the prior period.
Producer Prices in New Zealand averaged 712.54 points from 1977 until 2020, reaching an all time high of 1169 points in the fourth quarter of 2019 and a record low of 165.78 points in the fourth quarter of 1977. This page provides - New Zealand Producer Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Producer Input Prices - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Statistics New Zealand
Producer Prices in New Zealand is expected to be 1158.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices in New Zealand to stand at 1169.00 in 12 months time. In the long-term, the New Zealand Producer Input Prices is projected to trend around 1173.00 points in 2021 and 1180.00 points in 2022, according to our econometric models.