The Australian Bureau of Statistics (ABS) today released Producer Price Index (PPI) data for the September quarter, which registered a 0.3% quarterly rise in final (stage 3) prices and an increase of only 0.5% over the year:
The 0.3% rise in final (stage 3) prices was driven primarily by rises in the prices received for other agriculture which includes bananas, beans and tomatoes (+8.3%), sheep, beef cattle and grain farming; and dairy cattle farming (+11.9%) and electricity supply, gas supply and water supply, sewerage and drainage services (+1.7%), partly offset by falls in the prices received for petroleum refining and petroleum fuel manufacturing (-5.5%), computer and electronic equipment manufacturing (-1.9%) and cigarette and tobacco product manufacturing (-5.0%).
