Canty CPI twice national rise

20:15, Jul 16 2014

The Consumer Price Index (CPI) in Canterbury has doubled the national increase.

Regions are divided broadly to calculate the CPI and Timaru is part of the Canterbury region.

Canterbury experienced a 0.6 per cent CPI rise for the June 2014 quarter, compared to a 0.3 per cent lift nationally.

Nationwide, high housing and housing utilities prices made the largest contribution to the rise in the CPI, going up 1.2 per cent, reflecting higher electricity prices (up 4.2 per cent), housing rentals (up 0.6 per cent) and the purchase of newly built houses excluding land (up 1.2 per cent).

Statistics New Zealand prices manager Chris Pike said it was the largest quarterly rise for housing and household utilities since a 1.6 per cent rise in the December 2010 quarter, which was influenced by a rise in GST.

"The price of buying a newly built house without land increased 4.6 per cent for the year. In Auckland the increase was 5.5 per cent and in Canterbury 6.4 per cent," Pike said.

In the year to June cigarette and tobacco prices increased 10.2 per cent, and petrol prices 2.8 per cent.

The main downward contribution came from cheaper audio-visual and computing equipment (down 9.8 per cent). Vehicle prices were down 2.9 per cent.


The Timaru Herald