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The Australian Bureau of Statistics (ABS) today released Producer Price Index (PPI) data for the June quarter, which registered a 0.5% quarterly rise in final (stage 3) prices and an increase of only 1.7% over the year:
The 0.5% rise in final (stage 3) prices was driven primarily by rises in the prices received for Heavy and civil engineering construction (+0.9%), Building construction (+0.8%) and Other agriculture (+7.4%), partly offset by falls in the prices received for Petroleum refining and petroleum fuel manufacturing (-4.8%), Accommodation (-2.4%) and Commercial fishing (-7.6%).
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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.
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