The post New Zealand Producer Price Index ouputs rise 0.9% in Q1, inputs grow 0.7% appeared on BitcoinEthereumNews.com.

New Zealand’s Producer Price Index (PPI) inputs and outputs rose in the first quarter, with business input prices rising 0.7% (previous 0.9%), and business output prices rising 0.9% (previous 0.7%). According to Stats NZ, the largest contributor to output prices were electricity and gas, which rose 8.8% QoQ, with energies also making up the largest contributor to input prices, which climbed 11.6%. Insurance costs also contributed heavily to PPI input cost increases, rising 5.0% QoQ. Market reaction As markets head into the Pacific Friday market session, NZD/USD is trading on the high side. The pair is testing above 0.6120 after setting a Thursday peak above 0.6145. About New Zealand’s Produce Price Index – Output The Producer Price Index Out released by the Statistics New Zealand is a measurement of the price changes of goods produced by the producers in New Zealand. Generally speaking, a price hike generates higher retail prices for consumers. Thus, a high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish). Source: https://www.fxstreet.com/news/new-zealand-producer-price-index-ouputs-rise-09-in-q1-inputs-grow-07-202405162257

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Filed under: News - @ May 17, 2024 1:12 am