Purchase price of new capital rises 0.3 percent

The price of purchasing new capital items rose 0.3 percent in the September 2012 quarter, compared with the June 2012 quarter, Statistics New Zealand said today. Five of six asset groups measured by the capital goods price index (CGPI) increased.

The major upward contributions to the CGPI came from:

• the residential buildings price index (up 0.8 percent)
• the civil construction price index (up 1.0 percent)
• the transport equipment price index (up 0.6 percent).

The rises in the September 2012 quarter were offset by a decrease in the price index for plant, machinery, and equipment (down 0.6 percent), due largely to lower prices for computer machinery.

In the year to the September 2012 quarter, the CGPI rose 1.3 percent.

The CGPI measures the change in the purchase price of capital goods used by New Zealand producers.

See also:  Capital Goods Price Index: September 2012 quarter  –  Information release