International Trade Price Indexes, Australia

The main contributor to the rise was:

• Coal, coke and briquettes (+31.6%), driven by disruptions in supply linked to both the Russia-Ukraine conflict and adverse weather conditions.

Other contributors to the rise were:

• Gas, natural and manufactured (+4.5%), due to the rise in oil-linked contracts capturing the continuing rise in oil prices in early 2022, and
• Metalliferous ores and metal scrap (+2.3%), driven by demand for iron ore and alumina.

Through the year, the Export Price Index rose 38.7%. The main contributors were:

• Coal, coke and briquettes (+270.9%), and
• Gas, natural and manufactured (+105.4%).

The main contributor to the rise was:

• Petroleum, petroleum products and related materials (+31.0%), driven by refined petroleum, due to strong demand, higher crude oil prices and limited refining capacity.

A small offset to the rise was driven by:

• Road vehicles (-3.5%), due to a combination of factors, including planned end of financial year pricing adjustments.

Through the year, the Import Price Index rose 22.1%. The main contributors were:

• Petroleum, petroleum products and related materials (+103.0%), and
• Fertilisers (excluding crude fertilisers) (+133.1%).

Import Price Index

Export Price Index

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Price indexes published by the Australian Bureau of Statistics (ABS) provide summary measures of the movements in various categories of prices over time. They are published primarily for use in Government economic analysis. Price indexes are also often used in contracts by businesses and government to adjust payments and/or charges to take account of changes in categories of prices (Indexation Clauses).

Use of Price Indexes in Contracts sets out a range of issues that should be taken into account by parties considering including an Indexation Clause in a contract using an ABS published price index.

This release previously used catalogue number 6457.0.

This issue contains Export Price Indexes for June quarter 2022, calculated from revised March quarter 2022 indexes for Coal (Coal, coke & briquettes) and Liquified Natural Gas (Other mineral fuels) (see Post-release changes, International Trade Price Indexes, Australia, March 2022). Revised figures are included in Time series spreadsheets (Tables 7, 9, 10, 11, 18, 19) and Data cubes (Tables 8, 17).