PPI increases 0.1% in September quarter
According to the Australian Bureau of Statistics the country’s Producer Price Index rose 0.1% in the September quarter verus the June quarter and 0.2% on a year ago. The rise was attributed to price increases in electricity, gas and water, bakery product manufacturing and petroleum refining.
The ABS said the price increases were partially offset by price decreases in computer services and industrial machinery and equipment manufacturing.
At an intermediate stage, PPI dropped 0.6% and 4.9% compared to the previous quarter and the September 2008 quarter respectively.
The fall was largely attributed to price decreases in coal mining, property operators and developers, iron and steel manufacturing, and computer services. However, this was partially offset by price increases in oil and gas extraction (+19.0%), petroleum refining and electricity, gas and water supply.
At the preliminary stage, PPI slid 0.5% and 7.5% on the previous quarter and the September quarter 2009 respectively.
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