The final demand producer price index in Australia rose by 0.7% qoq in Q2 2021, after a 0.4% growth in Q1. This was the fourth straight quarter of rise in the index and the highest since Q3 2018, lifted by an acceleration in the economic recovery in the wake of the COVID-19 disruptions. There were rises in prices received for heavy and civil engineering construction (1.8%), due to increases in wages and materials; building construction (1.8%), driven by housebuilders capitalizing on improved buyer interest by increasing base prices; and petroleum refining and petroleum fuel manufacturing (12.1%), influenced by increasing demand and ongoing OPEC+ supply cuts. Offsetting the rise were falls in utilities (-2.5%), due to falls in contractual pricing on electricity supply; and commercial fishing (-12.7%), dragged down by increased seasonal supply of King prawns. Through the year to the second quarter, the index went up 2.2 percent, the highest since Q2 2014. source: Australian Bureau of Statistics
Producer Prices in Australia averaged 93.78 points from 1998 until 2021, reaching an all time high of 113.60 points in the second quarter of 2021 and a record low of 70.70 points in the first quarter of 1999. This page provides - Australia Producer Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Producer Prices - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
Producer Prices in Australia is expected to be 114.83 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Producer Prices is projected to trend around 117.30 points in 2022 and 119.99 points in 2023, according to our econometric models.