The Australian Bureau of Statistics (ABS) today released Producer Price Index (PPI) data for the December quarter, which registered a 0.3% quarterly increase in final (stage 3) prices and an increase of only 1.9% over the year:
The 0.9% increase in final (stage 3) prices was driven primarily by rises in the prices received for building construction (+0.5%), other transport equipment manufacturing (+3.0%) and sheep, beef cattle grain farming and dairy farming (+5.4%), partly offset by falls in the prices received for petroleum refining and petroleum fuel manufacturing (–12.1%).
