Input price index for a commodity: it represents the trend of domestic purchase prices (from businesses) and import prices. The prices of goods are the ones paid by the business. The index has a starting value of 1000 in December 2009 and increases/decreases over time based on weighted price changes.
The commodities published are aggregations of the National Accounts 2006 Commodity Classification (NA06CC) used in the national accounts supply and use reconciliation. Some of the commodities are aggregated for confidentiality reasons.
At URL provided, select 'Economic indicators > Producers Price Index - PPI > Published input commodities, Base Dec 2009 (Qrtly-Mar/Jun/Sep/Dec)'. All variables were selected to create this dataset. Figure.NZ has calculated the quarter-on-quarter percentage changes and the year-on-year percentage changes based on the index provided by Stats NZ.
This series is part of Stats NZ Producers Price Index dataset. The primary purpose of the PPI is for use by Stats NZ as deflators in calculating gross domestic product (GDP), which is New Zealand’s official measure of economic growth. These deflators remove the effect of price change to measure change in the volume of goods and services produced in the economy. For this reason, the current PPI aligns closely with the System of National Accounts 2008 (SNA08).
Other uses for the PPI include short-term indicators of producer inflationary trends, and in contract indexation clauses (also known as contract escalation).