Data Collection
Business Price Index: December 2016 quarter
Methodology
This BPI release includes the December 2016 quarter PPI, CGPI, and FEPI data.
Response rates for December 2016 quarter
Key firms Achieved: 99.4 percent Target: 100 percent
Non-key firms Achieved: 95.9 percent Target: 96 percent
Exchange rates The New Zealand dollar appreciated against four key currencies (UK pound, Australian dollar, Japanese yen and Euro) and depreciated against the US dollar, when comparing the mid-point of the December 2016 and September 2016 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 September 2016 quarter to the mid-point of the December 2016 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 August 2016 | 0.7011 | 0.5418 | 0.9135 | 70.69 | 0.6249 |
| 15 November 2016 | 0.6934 | 0.5542 | 0.9167 | 74.83 | 0.6425 |
| Percentage change | -1.1 | 2.3 | 0.4 | 5.9 | 2.8 |
| 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
