PPI confirms minimal inflationary pressures

Advertisement

By Leith van Onselen

The Australian Bureau of Statistics (ABS) today released Producer Price Index (PPI) data for the March quarter, which registered a 0.5% quarterly rise in final (stage 3) prices and an increase of only 1.3% over the year:

The 0.5% rise in final (stage 3) prices was driven primarily by rises in the prices received for Electricity supply, gas supply; and water supply, sewerage and drainage services (+2.9%), Building construction (+0.5%) and Petroleum refining and petroleum fuel manufacturing (+6.8%), partly offset by falls in the prices received for Specialised machinery and equipment manufacturing (-2.6%), Motor vehicle and motor vehicle part manufacturing (-0.8%) and Commercial fishing (-17.6%).

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.