Data Collection
Business Price Index: September 2017 quarter
Methodology
This BPI release includes the September 2017 quarter PPI, CGPI, and FEPI data.
Response rates for September 2017 quarter
Key firms Achieved: 100 percent Target: 100 percent
Non-key firms Achieved: 96.6 percent Target: 96 percent
Exchange rates
The New Zealand dollar appreciated against four key currencies (US dollar, UK pound, Australian dollar and Japanese yen) and depreciated against the Euro, when comparing the mid-point of the September 2017 and June 2017 quarters. An appreciating NZ dollar has a downward influence on the prices New Zealand producers pay for imported goods and services, and the prices received for exports. When calculating the PPI and CGPI, we generally use prices collected on the 15th day of the middle month in the quarter to represent the entire quarter. When these prices are collected in foreign currencies, they are converted to NZ dollars using the exchange rate at the mid-point of the quarter. The table below shows changes in the value of the NZ dollar in foreign currency denominations, from the mid-point of the June 2017 quarter to the mid-point of the September 2017 quarter.
| Exchange rates | |||||
|---|---|---|---|---|---|
| Bank selling rates for NZ$1.00 | |||||
| USA (NZ$:US$) | UK (NZ$:pound) | Australia (NZ$:AUS$) | Japan (NZ$:yen) | Europe (NZ$:euro) | |
| 15 May 2017 | 0.6690 | 0.5186 | 0.9024 | 75.45 | 0.6094 |
| 15 August 2017 | 0.7116 | 0.5483 | 0.9035 | 77.80 | 0.6013 |
| Percentage change | 6.4 | 5.7 | 0.1 | 3.1 | -1.3 |
| Source: Westpac Banking Corporation |
For a limited number of prices (e.g. petroleum product manufacturing) we use quarterly average prices. For these prices, the relevant exchange-rate movements are based on the average exchange rate for the quarter.
en-NZ
