Australia's import prices rose by 5.1 percent quarter-on-quarter in Q1 of 2022, after a 5.8 percent gain in Q4 which was the steepest pace since Q4 2008. The latest figure represented the fifth straight quarter of growth in import prices, amid a further recovery in the economy from the COVID-19 crisis and soaring energy prices. Main contributors to the rise were: petroleum, petroleum products and related materials (20.4%), driven by strong global oil demand and supply constraints; fertilizers (excluding crude) (19%), due to rising energy costs of production and strong global demand, particularly for urea; electrical machinery apparatus (4.5%), led by rising production costs; articles of apparel and clothing (4.7%), linked to higher material costs and costs of manufacturing; and coffee, tea and cocoa (20.1%), driven by higher costs of production, including fertilizers costs. Through the year to Q1, import prices went up 19.3%, the most since Q4 2008, after a 13.8% gain in Q4. source: Australian Bureau of Statistics
Import Prices in Australia averaged 94.58 points from 1981 until 2022, reaching an all time high of 126.60 points in the first quarter of 2022 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 June of 2022.
Import Prices in Australia is expected to be 120.50 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 2023, according to our econometric models.