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The Australian Bureau of Statistics (ABS) today released Producer Price Index (PPI) data for the March quarter, which registered a 0.4% quarterly rise in final (stage 3) prices and an increase of only 1.9% over the year:
The 0.4% rise in final (stage 3) prices was driven primarily by rises in the prices received for other agriculture (+10.3%), Heavy and civil engineering construction (+0.4%) and Tertiary Education (+1.7%), partly offset by falls in the prices received for Petroleum refining and petroleum fuel manufacturing (-3.1%), Accommodation (-2.8%) and Pharmaceutical and medicinal product manufacturing (-1.9%).
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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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