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Financial News: Australia Final Demand Producer Prices Rise 0.5%

Australia Final Demand Producer Prices Rise 0.5%

07/27/2017 - 21:46:00 (RTTNews)

(RTTNews) - Final demand producer prices in Australia were up 0.5 percent on quarter in the second quarter of 2017, the Australian Bureau of Statistics said on Friday - unchanged from the previous three months.

On a yearly basis, producer prices jumped 1.7 percent - accelerating from 1.3 percent in the three months prior.

Domestic prices were up 0.6 percent on quarter and 2.2 percent on year, while import prices added 0.2 percent on quarter but fell 1.7 percent on year.

The gains were mainly due to rises in the prices received for heavy and civil engineering construction (+0.9 percent), building construction (+0.8 percent) and other agriculture (+7.4 percent).

They were partly offset by falls in the prices received for petroleum refining and petroleum fuel manufacturing (-4.8 percent), accommodation (-2.4 percent) and commercial fishing (-7.6 percent).

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