PPI up in New Zealand

PPI up in New Zealand

Data released by Statistics New Zealand show that during the first quarter of 2005 the country's output prices in the producer price index (PPI) increased 0.5% from the previous quarter while input prices rose 0.3%. Rising international steel prices caused a 13.7% jump in the basic metal manufacturing index, which plays an important role in overall output prices. This was the highest increase in that index since 1994. The wholesale trade index, which is a main driving force behind the PPI input index, saw a rise of 0.9%, mainly due to higher input prices in the mineral, metal and chemical sectors.