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Financial News: Australia PPI Rises At Slower Rate In Q2

Australia PPI Rises At Slower Rate In Q2

07/27/2018 - 00:18:00 (RTTNews)

(RTTNews) - Australia's producer prices increased at a slower pace in the three months ended June, data from the Australian Bureau of Statistics showed Friday.

Producer prices climbed 0.3 percent sequentially in the second quarter, following a 0.5 percent rise in the first quarter.

The overall increase in the second quarter was mainly due to rises in the prices received for heavy and civil engineering construction, building construction and petroleum refining and petroleum fuel manufacturing.

This was partly offset by falls in the prices received for other agriculture, fishing and professional and scientific equipment manufacturing.

On a yearly basis, producer prices grew 1.5 percent in the June quarter, after a 1.7 percent increase in the preceding quarter.

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