Australia's import prices fell by 1 percent quarter-on-quarter in Q4 2020, compared with market expectations of a 2.4 percent decline and after a 3.5 percent drop in Q3. This was the fourth straight quarter of decrease in import prices, amid ongoing COVID-19 disruption. Main contributors to the falls were: inorganic chemicals (-33.1%), driven by an abundant international supply of caustic soda; medicinal and pharmaceutical products (-3.3%), recorded falls in prices of vaccines for the treatment of pneumococcal disease; and gold non-monetary (-3.8%), due to easing global uncertainty. Offsetting contributors were: telecommunications and sound recording equipment (3.3%); and fertilizers, excluding crude (+15.7%). Through the year to Q4, import prices dropped 7.3 percent. source: Australian Bureau of Statistics
Import Prices in Australia averaged 93.66 points from 1981 until 2020, reaching an all time high of 116.30 points in the second quarter of 2001 and a record low of 51.50 points in the third quarter of 1981. This page provides the latest reported value for - Australia Import Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Import Prices - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Import Prices in Australia is expected to be 111.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Import Prices in Australia to stand at 113.00 in 12 months time. In the long-term, the Australia Import Prices is projected to trend around 112.50 points in 2021 and 111.00 points in 2022, according to our econometric models.