Producer prices fell 0.3% in the March quarter, according to data from the Australian Bureau of Statistics (ABS).
The ABS Producer Price Index (PPI) for the first quarter edged down 0.3% despite analyst expectations of a 0.5% increase.
Falls were partly offset by rises in the prices received for electricity, gas and water supply, and tobacco product manufacturing, which was up 7.8%.
The decline was mainly due to a 17.7% fall in the prices received for other agriculture, plus declines in building construction, industrial machinery and equipment manufacturing.
The final PPI is now 1.4% higher than in the previous corresponding period.
COMMENTS
SmartCompany is committed to hosting lively discussions. Help us keep the conversation useful, interesting and welcoming. We aim to publish comments quickly in the interest of promoting robust conversation, but we’re a small team and we deploy filters to protect against legal risk. Occasionally your comment may be held up while it is being reviewed, but we’re working as fast as we can to keep the conversation rolling.
The SmartCompany comment section is members-only content. Please subscribe to leave a comment.
The SmartCompany comment section is members-only content. Please login to leave a comment.