by farms, factories, other producers for commodities and services)
increased in the quarter of September to December of 2010, as the
global demand for commodities rebounded.
The New Zealand economy issued the producer prices inputs reading for
the quarter of September to December of 2010, which rose 0.9%,
compared with a previous 0.7% in the third quarter.
Also producer prices outputs retreated to 0.2% in the 4th quarter,
from 1.2% in a previous quarter.
New Zealand inputs prices jumped for a fifth straight quarter, as a
global demand for the nation's commodities soared, led by the
improvements in global recovery. Further, higher prices paid by
textile companies, oil distributors and food manufacturers made up 70
percent of the overall increase in the index.
Amid the RBNZ's efforts to support the economy to rebound, after the
earthquake that hit the economy, which was the worst earthquake in 8
decades, The Reserve Bank of Australia decided last month to keep the
borrowing costs unchanged at 3.00% for a fourth straight month in
January, as the economic growth slowed during the period.
On the other hand, the prices that paid by manufacturers of metal
products fell because New Zealand's currency gained, making steel
cheaper, the statistics agency said. The stronger dollar also reduced
wood and pulp prices, reducing costs for paper makers.
Moreover, prices received by dairy companies fell 6.1 percent, as the
export values for milk powder and cheese declined.
Source: ActionForex.Com
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