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6427.0 - Producer Price Indexes, Australia, Jun 2005  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/07/2005   
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JUNE QUARTER KEY FIGURES

Mar Qtr 05 to Jun Qtr 05
Jun Qtr 04 to Jun Qtr 05
STAGE OF PRODUCTION
% change
% change

Final (Stage 3) commodities (excl. exports)
0.8
3.4
Domestic
1.0
4.6
Imports
-0.1
-3.0
Intermediate (Stage 2) commodities
1.7
4.7
Domestic
1.4
4.7
Imports
3.9
4.8
Preliminary (Stage 1) commodities
2.3
6.0
Domestic
1.6
5.2
Imports
6.7
10.0

Final Stage, Base: 1998-99 = 100.0
Graph: Final Stage, Base 1998-99 = 100.0

Final Stage, Quarterly % change
Graph: Final Stage, Quarterly % change



JUNE QUARTER KEY POINTS

FINAL (STAGE 3) COMMODITIES

  • The final (Stage 3) index rose 0.8% in the June quarter 2005.
  • The domestic component rose 1.0%, mainly due to increases in building construction and petroleum refining. These increases were partially offset by falls in meat and meat product manufacturing, and motor vehicles and parts.
  • The imports component fell -0.1%, due to price falls for capital goods, including electronic equipment, motor vehicles and parts, and photographic and scientific equipment.


INTERMEDIATE (STAGE 2) COMMODITIES
  • The intermediate (Stage 2) index rose 1.7% in the June quarter 2005.
  • The domestic component rose 1.4%, mainly due to increases in petroleum refining, dairy cattle farming, and oil and gas extraction.
  • The imports component rose 3.9%, due to oil and gas extraction, petroleum refining and basic chemical manufacturing. These increases were partially offset by falls in electronic equipment and photographic and scientific equipment.


PRELIMINARY (STAGE 1) COMMODITIES
  • The preliminary (Stage 1) index rose 2.3% in the June quarter 2005.
  • The domestic component rose 1.6% mainly due to petroleum refining and oil and gas extraction.
  • The imports component rose 6.7%, due to oil and gas extraction, petroleum refining and basic chemical manufacturing. These increases were partially offset by falls in electronic equipment.


NOTES

CHANGES IN THIS ISSUE

There are no changes in this issue.

RELATED STATISTICS

For more information about statistics in this publication and about other 'ABS data available on request', contact Steve Whennan on Canberra (02) 6252 6251, or email <steve.whennan@abs.gov.au>.

INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Steve Whennan on Canberra (02) 6252 6251.


SUMMARY COMMENTARY

COMMENTARY

STAGE OF PRODUCTION OVERVIEW

Each of the three stage of production indexes increased in the June quarter 2005, with the preliminary (Stage 1) index showing the largest rise of 2.3%, followed by an increase of 1.7% for the intermediate (Stage 2) index, and an increase of 0.8% for the final (Stage 3) index. Through the year to June quarter 2005, the preliminary (Stage 1) index increased by 6.0%, followed by an increase of 4.7% for the intermediate (Stage 2) index and an increase of 3.4% for the final (Stage 3) index.

The increase of 0.8% in the final (Stage 3) index reflects an increase of 1.0% in the price of domestically produced items and a fall of -0.1% in the price of imported items. The domestic component increased due to price rises for building construction and petroleum refining, which were partially offset by falls in meat and meat product manufacturing. The imports component fell due to price falls for electronic equipment, motor vehicles and parts, and photographic and scientific equipment, which were mostly offset by price rises for other food manufacturing, petroleum refining and beverage and malt manufacturing.

The increase of 1.7% in the intermediate (Stage 2) index reflects an increase of 1.4% in the price of domestically produced items and an increase of 3.9% in the price of imported items. The domestic component increased due to price rises for petroleum refining, dairy cattle farming, and oil and gas extraction, which were partially offset by price falls for meat and meat product manufacturing. The import component increased due to price rises for oil and gas extraction, petroleum refining and basic chemical manufacturing, which were partially offset by price falls for electronic equipment.

The increase of 2.3% in the preliminary (Stage 1) index reflects an increase of 1.6% in the price of domestically produced items and an increase of 6.7% in the price of imported items. The domestic component increased due to price rises for petroleum refining, oil and gas extraction and iron and steel manufacturing, which were partially offset by price falls for meat and meat product manufacturing. The import component increased due to price rises for oil and gas extraction, petroleum refining and basic chemical manufacturing, which were partially offset by price falls for electronic equipment.

COMPARISON OF SOP INDEXES
Graph: Comparison of SOP Indexes



Note: the 'final (Stage 3) stage of production producer price index, including exports' (Tables 26 and 27 available on the ABS website) increased by 3.4% in the June quarter 2005. This is the largest quarterly increase in this price index since the series began in 1998, and was driven by exports from the mining industry.

MANUFACTURING INDUSTRIES PRODUCER PRICE INDEXES

During the June quarter 2005, the prices paid by manufacturers for their material inputs increased by 3.1%, while the prices they received for their outputs increased by 2.8%. The input price index increased by 9.1% through the year to June quarter 2005 and the output price index increased by 6.9% during the same period.

Increases in the price of crude oil (both domestic and imported), and whole milk products were the main contributors to the quarterly result for the materials used in manufacturing industries index. Price falls for cattle and calves, sheep and lambs and pigs provided some offsets to these increases.

Higher prices for leaded and unleaded petroleum, diesel and kerosene accounted for most of the increase in the articles produced by manufacturing industries index for the June quarter 2005. These increases were partially offset by falls in the prices of beef for both the export market and domestic consumption, and motor vehicles.

ARTICLES PRODUCED BY MANUFACTURING INDUSTRIES: All Groups Quarterly % change
Graph: Articles Produced By Manufacturing Industries All Groups, Quarterly % change


Materials Used In Manufacturing Industries: All Groups Quarterly % change
Graph: Materials Used In Manufacturing industries All Groups, Quarterly % change




CONSTRUCTION INDUSTRIES PRODUCER PRICE INDEXES

The price index for materials used in house building increased by 0.9% in the June quarter 2005, reflecting price increases for a range of materials. The most significant contributors to the increase were pre-mixed concrete, metal roofing and guttering and concrete tiles. The largest offsetting price fall was recorded for softwood. Increases were recorded in all state capitals, ranging from 0.3% in Melbourne to 1.7% in Perth.

Through the year to June quarter 2005, the materials used in house building index rose 3.2%.

Materials Used in House Building: All Groups, Quarterly % change
Graph: Materials Used in House Building All Groups, Quarterly % change



The price index for the output of the general construction industry increased by 1.1% in the June quarter 2005 and by 6.5% through the year to June quarter 2005. Increases were registered in the quarter for all component industries, with the index for non-residential building construction being the largest contributor, followed by house construction, residential building construction other than houses, and road and bridge construction.

Contributing to the movement in the general construction industry price indexes this quarter were increases in the cost of material and labour inputs. Of the material inputs, the increasing costs of steel roofing and of fuel had the largest impact.

Output of the General Construction Industry: All Groups, Quarterly % change
Graph: Output of the General Construction industry All Groups, Quarterly % change


SERVICE INDUSTRIES PRODUCER PRICE INDEXES

The property and business services industries price index increased by 0.7% in the June quarter 2005 and by 2.5% through the year to June quarter 2005. The property services price index increased by 0.8% this quarter with increases for industrial property operators and retail property operators. Through the year to June quarter 2005, the property services index rose 3.5%.

Property and Business Services Industries: All Groups, Quarterly % change
Graph: Property and Business Services industries All Groups, Quarterly % change



The business services index rose 0.7% in the June quarter 2005 and by 1.9% through the year to June quarter 2005. The main contributors to the increase were accounting services and contract staff services. These increases were partially offset by falls in business management consultancy services.

The transport (freight) and storage industries index increased by 1.4% in the June quarter 2005. The most significant contributors to the increase were bulk road freight, general road freight, express road freight and international sea freight. These increases were partially offset by falls in international air freight. Through the year to June quarter 2005 the transport (freight) and storage industries index rose by 4.4%.

Transport (Freight) and Storage Industries: All Groups, Quarterly % change
Graph: Transport (Freight) and Storage industries All Groups, Quarterly % change


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