New Zealand - Producer Price Index (PPI)





New Zealand: Producer Price Index (PPI)

Mnemonic PPI.INZL
Unit Index 2010=1000, NSA
Adjustments Not Seasonally Adjusted
Quarterly 0.95 %
Data 2023 Q4 1,384
2023 Q3 1,371

Series Information

Source Statistics New Zealand
Release Capital goods price Index (CPGI), producers price index (PPI)
Frequency Quarterly
Start Date 12/31/1977
End Date 12/31/2023

New Zealand: Price

Reference Last Previous Units Frequency
Consumer Price Index (CPI) 2023 Q4 1,259 1,253 Index 2017Q2=1000, NSA Quarterly
Producer Price Index (PPI) 2023 Q4 1,384 1,371 Index 2010=1000, NSA Quarterly

Release Information

For New Zealand, the "Business Price Indexes" statistical release includes the capital goods price index (CPGI), farm expenses price index (FEPI) and producers price index (PPI).

The Capital Goods Price Index (CPGI) measures price changes for six groups of physical capital assets purchased by producers of goods and services. These are:

  • residential buildings
  • non-residential buildings
  • other construction
  • land improvement
  • transport equipment and plant
  • machinery and equipment

The CGPI can be used as a measure of price stability like the CPI and PPI, for inflation accounting, and in replacement-value insurance policies. The asset-type indexes can be used in cost escalation clauses for that type of asset.

CGPI

Active:

  • Classification: Special-purpose asset groups
  • Measurement: Fixed-base index relative to September quarter of 2022 (Index 2022Q3=1000)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Quarterly
  • Start date: As early as 1979Q4

Predecessor(s):

  • 1999Q3 - 1998Q4 to 2022Q3 ("_99")

PPI

Active:

  • Classification: NZSIOC, based on ANZSIC06
  • Measurement: Fixed-base index relative to 2010 (Index 2010=1000)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Quarterly
  • Start date:

Predecessor(s):

  • Dec 1997=100 - ("97")

The source writes:

The price surveys of capital items for the CGPI cannot possibly cover all the items purchased by producers.

However, it is not necessary to survey the prices of all capital items that the producers purchase, as many related items are subject to similar price movements. The solution is to survey the prices of a selection of goods and services, which will represent the price movements of the much wider range of items that businesses purchase. The factors, which are to be taken into account when selecting items to be price surveyed, are the selected capital items should:

  • be representative of the capital items purchased by businesses;
  • have a price history;
  • have price movements that accurately reflect those of a broad grouping of similar products; and
  • have a high probability of being available for a number of years; this reduces the frequency and subsequent difficulties encountered when items have to be replaced.

The prices used in the Capital Goods Price Index are collected by the Commodity Price Survey, which is a postal survey of about 3,000 respondents. Prices are generally collected each quarter and measure the price at the 15th of the middle month of the quarter.

The survey design is a purposive sample of outlets and items. Some prices used in the Capital Goods Price Index are obtained from various other publications. Most of the 'outlets' used within the Capital Goods Price Index are either manufacturers or wholesalers (eg cars). Some retailers also provide prices.

Yes. Data are revised when new data becomes available.

Unlike most countries and most indexes, all indexes from StatsNZ use a base value of 1000, not 100.

Further reading

At the source:

  • 2 Mar 2023, Phillip Thorne - CGPI rebased from 1999 to 2022.