Australian Bureau of Statistics
Celebrating the International Year of Statistics 2013

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COMMENTARY


IMPORT PRICE INDEX

The Import Price Index rose 0.3% in the December quarter 2012. This increase was driven mainly by rises in the prices paid for petroleum, petroleum products and related materials (+2.5%) and gold, non-monetary (excluding gold ores and concentrates) (+4.5%). These increases were partly offset by falls in the prices paid for telecommunications and sound-recording and reproducing apparatus and equipment (-2.2%) and medicinal and pharmaceutical products (-2.2%).

Through the year to the December quarter 2012, the Import Price Index fell 0.9%. This decrease was driven mainly by falls in the prices paid for medicinal and pharmaceutical products (-9.2%) and petroleum, petroleum products and related materials (-2.9%). Partly offsetting these through the year falls were rises in the prices paid for inorganic chemicals (+36.3%), road vehicles (including air-cushion vehicles) (+1.3%) and chemical materials and products, n.e.s. (+20.1%).


EXPORT PRICE INDEX

The Export Price Index fell 2.4% in the December quarter 2012. This decrease was driven mainly by falls in the prices received for coal, coke and briquettes (-10.2%), metalliferous ores and metal scrap (-3.7%) and gas, natural and manufactured (-8.3%). These decreases were partly offset by rises in the prices received for cereals and cereal preparations (+10.2%), non-ferrous metals (+5.6%), gold, non-monetary (excluding gold, ores and concentrates) (+4.4%) and petroleum, petroleum products and related materials (+2.8%).

Through the year to the December quarter 2012, the Export Price Index fell 14.3%. This decrease was driven mainly by falls in the prices received for metalliferous ores and metal scrap (-23.2%), coal, coke and briquettes (-27.5%), textile fibres and their wastes (-19.9%), non-ferrous metals (-4.9%), gas, natural and manufactured (-4.3%), and petroleum, petroleum products and related materials (-3.7%). Partly offsetting these through the year falls were rises in the prices received for cereals and cereal preparations (+3.8%), medicinal and pharmaceutical products (+7.6%), inorganic chemicals (+24.4%) and vegetables and fruit (+7.6%).