Australia's import prices went up 0.2 percent quarter-on-quarter in Q1 2021, shifting from a 1 percent drop in Q4. This was the first growth in import prices since Q4 2019, as the economy recovered from the coronavirus. Main contributors to the rise were: petroleum, petroleum products, and related materials (26.3%), driven by stronger oil demand and reduced global supply; and road vehicles (0.6%), driven by increased demand for new passenger vehicles. Offsetting contributors were: telecommunications and sound recording equipment (-6.1%), due to the discounting of older model mobile phones; gold, non-monetary (-9.6%), due to continued easing of global uncertainty; office machines and ADP machines (-6.1%), due to the impact of exchange rates and the appreciating AUD. Through the year to Q1, import prices fell 6.2%. source: Australian Bureau of Statistics
Import Prices in Australia averaged 94.01 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 July of 2021.
Import Prices in Australia is expected to be 113.00 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 112.50 in 12 months time. In the long-term, the Australia Import Prices is projected to trend around 111.00 points in 2022, according to our econometric models.