Producer prices increase in June 2022 quarter

Producer input and output prices have increased in the June 2022 quarter, Stats NZ said today.

In the June 2022 quarter prices received by producers of goods and services (outputs) increased 2.4 percent compared with the March 2022 quarter. Prices paid by producers of goods and services (inputs) increased 3.1 percent over the same period.

“period ended”“Producer price index ‒ outputs”“Producer price index ‒ inputs”
“Mar-00”0.91.5
“Jun-00”1.11.2
“Sep-00”2.84
“Dec-00”2.13.7
“Mar-01”-0.1-1
“Jun-01”1.31.4
“Sep-01”1.42
“Dec-01”0-0.5
“Mar-02”0.4-0.1
“Jun-02”0.50
“Sep-02”-1.1-1.5
“Dec-02”00.2
“Mar-03”0.10
“Jun-03”0.3-0.5
“Sep-03”0.40.5
“Dec-03”0.40.1
“Mar-04”-0.2-0.4
“Jun-04”1.41.9
“Sep-04”0.70.9
“Dec-04”0.50.9
“Mar-05”0.4-0.1
“Jun-05”1.22.1
“Sep-05”1.82.5
“Dec-05”0.20.9
“Mar-06”0.71
“Jun-06”2.92.9
“Sep-06”11.4
“Dec-06”-0.6-1.1
“Mar-07”-0.2-0.7
“Jun-07”1.21.2
“Sep-07”1.62.4
“Dec-07”1.41.3
“Mar-08”1.82.1
“Jun-08”3.56
“Sep-08”2.83.7
“Dec-08”1.4-2.2
“Mar-09”-1.4-2.5
“Jun-09”-0.70
“Sep-09”-1.4-1.1
“Dec-09”-0.10.4
“Mar-10”1.81.3
“Jun-10”1.11.4
“Sep-10”1.20.7
“Dec-10”0.20.9
“Mar-11”1.72.2
“Jun-11”1.40.9
“Sep-11”0.20.6
“Dec-11”0.10.5
“Mar-12”-0.10.3
“Jun-12”0.30.6
“Sep-12”-0.9-1
“Dec-12”-0.1-0.3
“Mar-13”0.80.8
“Jun-13”10.6
“Sep-13”2.42.2
“Dec-13”-0.4-0.7
“Mar-14”0.91
“Jun-14”-0.5-1
“Sep-14”-1.1-1.5
“Dec-14”-0.1-0.4
“Mar-15”-0.9-1.1
“Jun-15”-0.2-0.3
“Sep-15”1.31.6
“Dec-15”-0.8-1.2
“Mar-16”-0.2-1
“Jun-16”0.20.9
“Sep-16”11.5
“Dec-16”1.51
“Mar-17”1.40.8
“Jun-17”1.31.5
“Sep-17”11.1
“Dec-17”10.9
“Mar-18”0.20.6
“Jun-18”0.91
“Sep-18”1.51.4
“Dec-18”0.91.8
“Mar-19”-0.5-0.9
“Jun-19”0.40.3
“Sep-19”1.11
“Dec-19”0.50.2
“Mar-20”0.1-0.3
“Jun-20”-0.2-0.9
“Sep-20”-0.30.6
“Dec-20”0.50.1
“Mar-21”1.22.1
“Jun-21”2.63
“Sep-21”1.81.6
“Dec-21”1.51.2
“Mar-22”2.63.4
“Jun-22”2.43.1

“Most industries experienced price increases in the June 2022 quarter, however a lot of these price movements were smaller than the increases seen in the March 2022 quarter,” business prices delivery manager James Mitchell said.

Key quarterly results

Higher prices received by the building construction (up 4.2 percent), electricity and gas supply (up 6.4 percent), and construction services (up 3.0 percent) industries were the largest contributors to the increase in prices received by producers.

Higher prices paid by the electricity and gas supply (up 9.4 percent), building construction (up 4.2 percent), and construction services (up 3.9 percent) industries were the largest contributors to the increase in prices paid by producers.

More strong increases in capital goods and farm expenses prices

The June 2022 quarter saw the largest single quarter increases in the capital goods and farm expenses price indexes in their respective series dating back to the early 1990s.

The capital goods price index showed a quarterly 3.7 percent increase. The latest increase has again been strongly driven by the price increases for the construction of new buildings.

The farm expenses price index showed a quarterly 4.8 percent increase. Recent increases in fuel and fertiliser prices, and interest rates have been significant factors.

“Farm expenses were at the highest level we’ve measured in our series going back to 1993,” Mr Mitchell said.

“On average, for all farm types, expenses were 13.4 percent higher in the June 2022 quarter than they were in the June 2021 quarter.”

“period ended”“Capital goods price index”“Farm expenses price index – all inputs including livestock”
“Mar-00”0.81.7
“Jun-00”0.61.5
“Sep-00”1.12.1
“Dec-00”2.22.7
“Mar-01”0.11.4
“Jun-01”0.41.9
“Sep-01”0.31
“Dec-01”0.50.3
“Mar-02”0.51.6
“Jun-02”0.21.5
“Sep-02”0.10.5
“Dec-02”0.20
“Mar-03”-0.1-0.7
“Jun-03”0.5-1.3
“Sep-03”0.3-0.4
“Dec-03”0.90
“Mar-04”0.80.3
“Jun-04”1.61.4
“Sep-04”0.61.3
“Dec-04”0.81.4
“Mar-05”0.51.1
“Jun-05”11.8
“Sep-05”0.71.7
“Dec-05”0.70.3
“Mar-06”0.80.4
“Jun-06”1.31.3
“Sep-06”1.20.5
“Dec-06”0.8-0.4
“Mar-07”0.30.5
“Jun-07”0.41.2
“Sep-07”0.71.7
“Dec-07”0.81.4
“Mar-08”0.51
“Jun-08”13.5
“Sep-08”1.4NA
“Dec-08”1.1NA
“Mar-09”1.2NA
“Jun-09”0.3NA
“Sep-09”-0.4NA
“Dec-09”-0.2NA
“Mar-10”-0.1NA
“Jun-10”0.1NA
“Sep-10”0.4NA
“Dec-10”-0.7NA
“Mar-11”0.2NA
“Jun-11”0.5NA
“Sep-11”0NA
“Dec-11”0.4NA
“Mar-12”0NA
“Jun-12”0.6NA
“Sep-12”0.3NA
“Dec-12”0NA
“Mar-13”-0.1NA
“Jun-13”0.5NA
“Sep-13”0.4NA
“Dec-13”0.5NA
“Mar-14”0.60.9
“Jun-14”0.72.1
“Sep-14”0.50.6
“Dec-14”10.1
“Mar-15”0.6-0.5
“Jun-15”0.60.4
“Sep-15”1.4-0.8
“Dec-15”0.6-0.8
“Mar-16”0.5-0.3
“Jun-16”0.90.2
“Sep-16”0.8-0.1
“Dec-16”1.10
“Mar-17”0.40.5
“Jun-17”0.90.7
“Sep-17”0.50.4
“Dec-17”0.80.9
“Mar-18”0.31.2
“Jun-18”0.80.6
“Sep-18”1.21.1
“Dec-18”0.51.5
“Mar-19”0.5-0.1
“Jun-19”0.9-0.1
“Sep-19”0.80.7
“Dec-19”0.50.2
“Mar-20”0.6-0.1
“Jun-20”0.3-0.1
“Sep-20”0.3-0.1
“Dec-20”0.60.1
“Mar-21”0.61
“Jun-21”2.91.4
“Sep-21”2.51.8
“Dec-21”2.93
“Mar-22”2.83.2
“Jun-22”3.74.8

/Stats NZ Public Release. View in full here.