Australia's import prices rose by 0.4 percent quarter-on-quarter in the three months to September 2019, following a 0.9 percent advance in the prior quarter and well above market consensus of a 0.1 percent rise. Main contributors to the increase were gold, non monetary, excluding gold ores and concentrates (15%), due to increased investor demand amid concerns over global economic growth; general industrial machinery and equipment, n.e.s, and machine parts, n.e.s. (2.4%), reflecting annual price reviews and the depreciation of the Australian dollar.; and telecommunications and sound-recording and reproducing apparatus and equipment (1.6%), due to higher import prices for mobile phones. Partly offsetting the rise was petroleum and related materials (-4.9 percent), due to a fall in global demand, and organic chemicals (-10.8%). Through the year to the June quarter, import prices advanced 1.2 percent. Import Prices in Australia averaged 93.40 Index Points from 1981 until 2019, reaching an all time high of 116.30 Index Points in the second quarter of 2001 and a record low of 51.50 Index Points in the third quarter of 1981. source: Australian Bureau of Statistics
Import Prices in Australia is expected to be 117.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Import Prices in Australia to stand at 114.00 in 12 months time. In the long-term, the Australia Import Prices is projected to trend around 110.00 Index Points in 2020, according to our econometric models.