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Financial News: Australia Final Demand Producer Prices Gain 0.5%

Australia Final Demand Producer Prices Gain 0.5%

07/27/2017 - 22:16:00 (RTTNews)

(RTTNews) - Final demand producer prices in Australia climbed 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).

Intermediate demand prices were up 0.5 percent on quarter and 2.5 percent on year. Domestic prices were up 0.5 percent on quarter and 2.6 percent on year, while import prices gained 0.8 percent on quarter and 2.3 percent on year.

The gains were mainly due to rises in the prices received for textile, leather, clothing and footwear manufacturing (+1.6 percent), real estate services (+2.9 percent) and sheep, beef cattle and grain farming; and dairy cattle farming (+3.3 percent).

They were partly offset by falls in the prices received for petroleum refining and petroleum fuel manufacturing (-4.9 percent), oil and gas extraction (-3.2 percent) and computer and electronic equipment manufacturing (-1.8 percent).

Preliminary demand prices added 0.4 percent on quarter and 2.4 percent on year. Domestic prices gained 0.4 percent on quarter and 2.6 percent on year, while import prices gained 0.7 percent on quarter and 1.9 percent on year.

The gains were mainly due to rises in the prices received for textile, leather, clothing and footwear manufacturing (+1.4 percent), real estate services (+2.9 percent) and sheep, beef cattle and grain farming; and dairy cattle farming (+3.7 percent).

They were partly offset by falls in the prices received for metal ore mining (-15.0 percent), petroleum refining and petroleum fuel manufacturing (-4.9 percent) and oil and gas extraction (-3.0 percent).

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