Final demand producer prices in Australia advanced 0.1 percent on quarter and 1.0 percent on year in the second quarter of 2016, the Australian Bureau of Statistics said on Friday.
Domestic prices added 0.3 percent on quarter and 0.9 percent on year, while import prices slipped 1.6 percent on quarter and climbed 2.1 percent on year.
The increase was mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+13.6 percent), meat and meat product manufacturing (+3.7 percent) and building construction (+0.4 percent).
These gains were partly offset by falls in the prices received for computer and electronic equipment manufacturing (-3.3 percent), specialized machinery and equipment manufacturing (-3.8 percent) and fruit and vegetable processing (-5.4 percent).
Intermediate demand PPI added 0.2 percent on quarter and 0.3 percent on year.
Domestic prices gained 0.4 percent on quarter and 0.7 percent on year, while import prices slipped 2.2 percent on quarter and 2.5 percent on year.
The gains were mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+13.7 percent), electricity, gas and water supply and sewerage and drainage services (+2.0 percent) and oil and gas extraction (+10.5 percent).
They were partly offset by falls in the prices received for textile, leather, clothing and footwear manufacturing (-2.6 percent), grain mill and cereal product manufacturing (-9.4 percent) and sheep, beef cattle and grain farming (-2.5 percent).
Preliminary demand PPI gained 0.1 percent both on quarter and on year.
Domestic prices gained 0.5 percent on quarter and 0.6 percent on year, while import prices fell 2.0 percent on quarter and 2.2 percent on year.
The gains were mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+14.1 percent), electricity, gas and water supply and sewerage and drainage services (+2.1 percent) and oil and gas extraction (+9.8 percent).
They were partly offset by falls in the prices received for textile, leather, clothing and footwear manufacturing (-2.5 percent), motor vehicle and motor vehicle part manufacturing (-3.2 percent) and computer and electronic equipment manufacturing (-3.1 percent).
Also on Friday, the Reserve Bank of Australia said that private sector credit in Australia added 0.2 percent on month and 6.2 percent on year in June.
Housing credit gained 0.5 percent on month and 6.7 percent on year, while personal credit fell 0.1 percent on month and 0.8 percent on year and business credit fell 0.2 percent on month and climbed 6.6 percent on year.
The M3 money stock and broad money both advanced 0.5 percent on month and 6.0 percent on year.
by RTT Staff Writer
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