Australia’s terms-of-trade soar as Aussies get poorer

The Australian Bureau of Statistics (ABS) has released its International Trade Price Indexes for the June quarter of 2022, which revealed that export prices soared by 10.1% over the quarter and by 38.7% through the year.

By contrast, the import price index rose by 4.3% this quarter and were 22.1% higher through the year.

Surging coal and gas prices drove the rise in export prices:

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