Producer Prices in Australia

Australia Producer Prices | Economic News & Forecasts

Australia - Producer Prices

Inflation at over five-year high at 2020 outset, sits within the Central Bank’s target band

In the first quarter of 2020, consumer prices rose 0.3% over the previous quarter following a 0.7% increase in the last quarter of 2019, according to the Australian Bureau of Statistics (ABS). The figure beat market expectations of a 0.2% increase although marked the slowest rise since Q1 2019. According to the ABS, Q1’s deceleration was mainly the result of falling prices for clothing and footwear; recreation and culture; and transport on the back of lower oil prices. These were only partially offset by a faster rise in prices for education and a rebound in health prices.

Inflation climbed to 2.2% in Q1 from Q4’s 1.8%, beating market expectations of a 2.0% inflation and marking the highest reading since Q3 2014. Therefore, inflation moved into the Reserve Bank’s 2.0%–3.0% target band. Regional variations persisted: Inflation came in between 1.5% and 2.7% everywhere excluding Hobart, where it logged 3.4%.

Our panelists see inflation averaging 1.2% in 2020 and 1.6% in 2021.

Australia - Producer Prices Data

2015   2016   2017   2018   2019  
Inflation (PPI, annual variation in %)1.4  0.9  1.6  1.8  1.8  

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Value Change Date
Bond Yield1.371.47 %Dec 31
Exchange Rate0.700.05 %Dec 31

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