Australian Bureau of Statistics
6427.0 - Producer Price Indexes, Australia, Mar 2008
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 21/04/2008
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MANUFACTURING INDUSTRIES PRODUCER PRICE INDEXES
During the March quarter 2008, the prices paid by manufacturers for material inputs increased by 3.8%, while the prices they received for their outputs increased by 3.1%. Through the year to March quarter 2008 , prices of material inputs increased by 11.9%, while prices for their outputs rose by 6.9%.
Price rises for products from oil and gas extraction (+10.2%) and grain, sheep and beef farming (+4.3%) drove the rise in the cost of materials used in the manufacturing industries. Major contributors to these price increases were crude oil, sheep, lambs, cattle and calves. Price decreases for products from gas supply (-2.2%) and other crop growing (-4.0%) provided offsets to these price increases.
The increase in prices received for articles produced by manufacturing industries was mainly due to rises in the price of outputs from petroleum refining and meat and meat product manufacturing. Major contributors to these price increases were diesel, unleaded petrol and beef (fresh and frozen). These increases were partly offset by decreases in the prices received for outputs from basic non-ferrous metal manufacturing. Contributors to these price decreases were price falls in recovery of zinc and lead.
CONSTRUCTION INDUSTRIES PRODUCER PRICE INDEXES
The price index for materials used in house building rose by 1.3% in the March quarter 2008 and by 3.7% through the year to March quarter 2008. This follows consecutive price increases of 0.9% in the September quarter 2007 and 0.9% in the December quarter 2007. The largest contributors to the increase this quarter were price rises for timber, board and joinery (+2.1%), ceramic products (+2.4%), and other metal products (+0.8). These price increases were partially offset by falls in prices paid for electrical equipment (-1.4%).
Melbourne's increase of 1.4% contributed the most to the overall weighted average of six capital cities quarterly movement. Increases were recorded for all the state capitals.
The price index for the output of the general construction industry increased by 1.9% in the March quarter 2008, and by 6.2% through the year to March quarter 2008. The largest contributor this quarter was the index for house construction (+1.8%), followed by non-residential building construction (+2.0%), residential building construction n.e.c. (+1.9%), and road and bridge construction (+1.6%).
Victoria's increase of 2.4% and New South Wales's increase of 1.9% made the largest contributions to the quarterly movement of the price index of the general construction industry. The results for these states were driven primarily by increases in house construction prices, however non-residential building construction was also a significant contributor in Victoria. Queensland and Western Australia's increases of 1.5%, also contributed positively, due to increases in house building construction and non-residential building construction prices respectively.
SERVICE INDUSTRIES PRODUCER PRICE INDEXES
The property and business services industries price index increased by 1.6% in the March quarter 2008, and by 6.3% through the year to March quarter 2008.
The property services index increased by 3.1% in the March 2008 quarter, and by 11.6% through the year to March quarter 2008. The main contributors to the quarterly increase were commercial property operators and developers (+3.1%) and real estate agents (+4.5%). The business services index increased by 0.6% in the March quarter 2008 and by 2.7% through the year to March quarter 2008. The main contributors to the quarterly increase were business management services (+3.4%), advertising services (+2.9%) and business services n.e.c. (+2.8%). These increases were partially offset by a decrease in contract staff services (-1.9%).
The transport (freight) and storage industries index increased by 1.4% in the March quarter 2008, and by 3.0% through the year to March quarter 2008. The most significant contributors to the quarterly increase were road freight transport (+2.2%) and rail transport (+0.9%). These increases were partially offset by decreases in international sea transport (-1.0%).
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This page last updated 18 July 2008