NZ producer prices fall in third quarter on dairy manufacturing inputs

NZ producer prices fall in third quarter on dairy manufacturing inputs
By Jonathan Underhill Nov. 20 (BusinessDesk) - New Zealand producer input prices fell in the third quarter as lower farmgate milk prices reduced input costs for dairy manufacturers, adding more evidence that inflation in the local economy is subdued. Input prices declined 1.5 percent in the three months ended Sept. 30, after dropping 1 percent in the second quarter, while output prices fell 1.1 percent, according to Statistics New Zealand. Inputs rose 2.2 percent from a year earlier and outputs rose 2.4 percent. Input prices for dairy...