6457.0 - International Trade Price Indexes, Australia, Jun 2012 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 20/07/2012   
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COMMENTARY


IMPORT PRICE INDEX

The Import Price Index rose 2.4% in the June quarter 2012. The depreciation of the Australian dollar against all of our major trading currencies contributed to this increase. This increase was driven mainly by rises in the prices paid for petroleum, petroleum products and related materials (+3.7%), medicinal and pharmaceutical products (+3.3%), manufactures of metals, n.e.s. (+4.5%), organic chemicals (+6.7%) and other transport equipment (+4.2%). These increases were partly offset by falls in the prices paid for fertilisers (other than those of group 272) (-12.3%).

Through the year to the June quarter 2012, the Import Price Index rose 3.7%. This increase was driven mainly by rises in the prices paid for petroleum, petroleum products and related materials (+6.8%), gold, non-monetary (excluding gold, ores and concentrates) (+12.9%) and articles of apparel and clothing accessories (+12.2%). Partly offsetting these through the year rises were falls in the prices paid for medicinal and pharmaceutical products (-7.3%), iron and steel (-4.9%) and non-ferrous metals (-8.2%).


EXPORT PRICE INDEX

The Export Price Index rose 1.0% in the June quarter 2012. This increase was driven mainly by rises in the prices received for metalliferous ores and metal scrap (+2.7%), gas, natural and manufactured (+9.9%), petroleum, petroleum products and related materials (+6.2%) and iron and steel (+9.7%). These increases were partly offset by falls in the prices received for coal, coke and briquettes (-3.1%), non-ferrous metals (-6.2%) and gold, non-monetary (excluding gold, ores and concentrates) (-1.7%).

Through the year to the June quarter 2012, the Export Price Index fell 3.8%. This decrease was driven mainly by falls in the prices received for metalliferous ores and metal scrap (-13.7%), coal, coke and briquettes (-5.2%), non-ferrous metals (-17.9%), cereals and cereal preparations (-10.9%), meat and meat preparations (-4.6%) and dairy products and birds’ eggs (-6.8%). Partly offsetting these through the year falls were rises in the prices received for gas, natural and manufactured (+35.5%), gold, non-monetary (excluding gold, ores and concentrates) (+11.6%), iron and steel (+13.1%) and petroleum, petroleum products and related materials (+2.6%).