Statistics
New Zealand announced that the country's capital goods price index (CGPI) continued to rise during the quarter ended December 31, 2004, increasing 0.8% from the previous quarter. The index had increased 0.6% in the quarter ended September 30, 2004, and 1.5% in the quarter ended June 31, 2004.
According to the index, building costs rose 1.7% for residential buildings and 1.8% for non-residential buildings. The high prices of
construction materials reportedly pushed up the index.
On the other hand, the plant, machinery and equipment index fell 0.2% in the quarter ended December 31, 2004. Raw materials, supplier and sub-component prices were reportedly the main factors affecting price increases in the quarter.
The 2.5% fall in the computer machinery index was the most significant downward contribution to the plant, machinery and equipment index.
The transport equipment index fell 0.3% in the quarter, due to the fluctuations in the exchange rate.
However, overall CGPI showed a 3.9% year-on-year increase in the quarter ended December 31, 2004.