COMMENTARY
IMPORT PRICE INDEX
The Import Price Index recorded no change in the September quarter 2011. Rises in the prices paid for gold, non–monetary (excluding gold, ores and concentrates) (+14.3%), inorganic chemicals (+21.5%), fertilisers (excluding crude fertilisers) (+16.9%) and articles of apparel and clothing accessories (+5.2%), were offset by falls in the prices paid for petroleum, petroleum products and related materials (–3.8%) and medicinal and pharmaceutical products (–4.0%).
Through the year to the September quarter 2011, the Import Price Index fell 1.7%. This decrease was driven mainly by falls in the prices paid for telecommunications and sound–recording and reproducing apparatus and equipment (–12.9%), office machines and automatic data–processing machines (–17.6%) and road vehicles (including air–cushion vehicles) (–2.4%). Partly offsetting these through the year falls were rises in the prices paid for petroleum, petroleum products and related materials (+21.8%), gold, non–monetary (excluding gold, ores and concentrates) (+20.0%) and non–ferrous metals (+3.3%).
EXPORT PRICE INDEX
The Export Price Index rose 4.0% in the September quarter 2011. This increase was driven mainly by rises in the prices received for coal, coke and briquettes (+9.3%), gas, natural and manufactured (+24.5%), gold, non–monetary (excluding gold, ores and concentrates) (+14.8%), textile fibres and their wastes (+17.6%) and cereals and cereal preparations (+2.9%). These increases were partly offset by falls in the prices received for meat and meat preparations (–7.8%).
Through the year to the September quarter 2011, the Export Price Index rose 6.6%. This increase was driven mainly by rises in the prices received for coal, coke and briquettes (+9.4%), gold, non–monetary (excluding gold ores and concentrates) (+20.6%), petroleum, petroleum products and related materials (+27.3%), textile fibres and their wastes (+67.9%) and gas, natural and manufactured (+15.7%). Partly offsetting these through the year rises were falls in the prices received for power generating, general industrial and other specialised machinery and equipment (–6.5%), professional, scientific and controlling instruments and apparatus, n.e.s. (–15.7%), road vehicles (including air–cushion vehicles) (–7.0%) and meat and meat preparations (–3.1%).