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Statistics New Zealand released its output and input producer price index (PPI) data on the late Tuesday evening. New Zealand's input PPI slid 1.0% in the first quarter, after a 1.2% fall in the fourth quarter.
"The petroleum and coal product manufacturing industry makes a broad range of fuel products, including petrol, diesel, and aviation fuel," business prices manager Sarah Williams said.
Output PPI fell 0.2% in the first quarter, after a 0.8% decline in the fourth quarter.
Prices received by petroleum and coal product manufacturers plunged 22% in the first quarter. Prices paid by petroleum and coal product manufacturers slid 18%.
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