This data point from NZ is not generally much of an immediate FX market mover.
PPI Input q/q +1.0% q/q
- prior +1.5%
PPI Output +1.5% q/q
- prior +1.0%
For the y/y, (to the December 2016 quarter):
- Producer input prices increased 2.3 percent
- Producer output prices increased 2.5 percent
Via Stats NZ:
- Producer output prices were mainly influenced by higher prices received by dairy product manufacturers (up 14 percent), and higher farm-gate milk prices received by dairy cattle farmers (up 13 percent)
- "Producer prices were driven by a higher forecasted farm-gate milk price, which rose to $6.00 a kilo in mid-November 2016. This compares to $4.60 a kilo a year before, and $8.65 a kilo in the March 2014 quarter, when prices received by dairy cattle farmers were at their peak"
- Prices received by producers in the mining and construction industries were also up, by 13 percent and 1.6 percent respectively
- Construction prices were affected by labour and material cost
- Producer input prices were mainly influenced by prices paid by dairy product manufacturers (up 11 percent), due to the increase in farm-gate milk prices
- Price rises in petrol (up 5.7 percent) and diesel (up 8.5 percent) also contributed to higher input prices paid by producers across many industries
- Lower electricity prices paid by producers (down 13 percent)
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- The PPI 'input' measures the change in the price of goods and raw materials purchased by manufacturers.
- The PPI 'output' measures the change in the price of goods sold by manufacturers.
