Purchase price of new capital unchanged in March 2012 quarter

In the March 2012 quarter, the price of purchasing new capital items was unchanged from the December 2011 quarter, Statistics New Zealand said today. Four 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 0.4 percent), with higher prices for new dwellings
• the civil construction price index (up 1.1 percent).

The rises in the March 2012 quarter were offset by decreases in the price index for plant, machinery, and equipment (down 1.0 percent), and the index for transport equipment (down 0.5).

In the year to the March 2012 quarter, the CGPI rose 0.9 percent.

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

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