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Rise in Prices Paid by Producers

21 February 2012

NEW ZEALAND - Prices paid by New Zealand producers for goods and services rose by an overall 0.5 per cent in the December 2011 quarter, Statistics New Zealand said.

In contrast, prices for goods and services produced in New Zealand, as measured by the producers price index (PPI), remained virtually unchanged (up 0.1 per cent).

Higher farm-gate milk prices were the main influence on this quarter's PPI. The prices paid to dairy farmers were up 3.3 per cent for the December 2011 quarter, but down 4.7 per cent on an annual basis.

Prices received by sheep, beef cattle, and grain farmers were also a major contributor, with prices received up 4.6 per cent.

In the year to the December 2011 quarter, the overall movement in prices received by New Zealand producers was an increase of 3.4 per cent, while prices paid by producers were up 4.2 per cent.

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