Producer output prices rose 1.4% in the March 20 17 quarter, while input prices rose 0.8%, Stats NZ said today.

In the March quarter, producer output prices were affected by higher prices obtained for milk products, while higher crude oil prices pushed up the input charges at oil refineries.

In the year to the March 20 17 quarter, producer output prices increased 4.1%, and input prices increased 4.2%.

The prices paid by gas producers were up 43% in the year, due mainly to to higher crude oil prices, company prices supervisor Sarah Williams stated. In March 2016, the prices gas suppliers compensated were at the lowest level since the June 2003 quarter. This business generates several other sectors refined fuels which are used by several other sectors.

In the March 20 17 year, prices received by dairy cattle farmers and dairy-product producers rose 49% and 22%, respectively. Farm-gate milk prices increased from $3.90 to $6.00 per kilo of milk solids, and dairy producers acquired higher prices for milk powder.