Australia's import prices rose by 1.9 percent quarter-on-quarter in Q2 2021 after gaining 0.2 percent in Q1. This was the second straight quarter of growth in import prices, amid a faster recovery in the economy from the coronavirus. Main contributors to the rise were: petroleum, petroleum products, and related materials (10.2%), led by stronger oil demand and reduced global supply; fertilizers (excluding crude) (18.3%), driven by strong global and domestic demand amid favorable planting conditions; iron and steel (11.8%), due to global construction demand outpacing supply; non-ferrous metals (8.9%), lifted by strong demand in both manufacturing and construction globally; and plastic in primary form (12.8%), on strong demand and constrained supply. The main offsetting contributor was: telecommunications and sound recording equipment (-2.9%), due to the discounting of older model mobile phones. source: Australian Bureau of Statistics
Import Prices in Australia averaged 94.10 points from 1981 until 2021, 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 September of 2021.
Import Prices in Australia is expected to be 113.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Import Prices is projected to trend around 111.00 points in 2022, according to our econometric models.