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Financial News: Australia Producer Prices Climb 0.6% In Q4

Australia Producer Prices Climb 0.6% In Q4

02/01/2018 - 19:50:00 (RTTNews)

(RTTNews) - Final demand producer prices in Australia were up 0.6 percent on quarter in the fourth quarter of 2017, the Australian Bureau of Statistics said on Friday - following the 0.2 percent gain in the three months prior.

The increase was mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+11.9 percent), heavy and civil engineering construction (+0.7 percent) and building construction (+0.4 percent).

They were partly offset by falls in the prices received for sugar and confectionery manufacturing (-3.9 percent), tobacco product manufacturing (-3.8 percent) and sheep, beef cattle and grain farming; and dairy cattle farming (-3.6 percent).

On a yearly basis, producer prices jumped 1.7 percent - up from 1.6 percent in Q3.

Intermediate demand producer prices were up 1.2 percent on quarter and 3.1 percent on year, while preliminary demand producer prices advanced 1.3 percent on quarter and 3.0 percent on year.

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