The Australian Bureau of Statistics (ABS) has released export and import prices for the December quarter, which portends another much-needed increase in Australia’s terms-of-trade when the national accounts are released in early March.
According to the ABS, export prices surged by 12.4% over the December quarter and were up by 12.4% over the year, whereas import prices rose by only 0.2% over the quarter but were down by 4.6% over the year (see below table).
