Australia's import prices dropped by 4.2 percent quarter-on-quarter in three months to March 2023, reversing a 1.8 percent rise in three months to December 2022. It was the first decline in import prices since Q4 of 2020 due to weakening demand amid high inflation and moderating commodity prices. Main downward contributors were: petroleum, petroleum products, and related materials (-16.6%), which fell on strong global supplies and lower demand as global economic activity slowed; fertilizers (-36.0%), dragged by cooled prices for natural gas, a key input to production; and electrical machinery and apparatus (-4.7%) driven by the appreciation of the Australian dollar. Offsetting the decline was a 5.2% increase in specialized machinery caused by inflationary pressures and growing input costs through 2022 and a 1.5% gain in road vehicles, boosted by the introduction of new models at higher prices. Through the year to Q1, the import prices rose by 4.7%, easing from a 14.9% jump in Q4. source: Australian Bureau of Statistics

Import Prices MoM in Australia averaged 0.61 percent from 1981 until 2023, reaching an all time high of 12.80 percent in the third quarter of 1986 and a record low of -6.40 percent in the second quarter of 2009. This page includes a chart with historical data for Australia Import Prices QoQ. Australia Import Prices QoQ - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Import Prices MoM in Australia is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Import Prices QoQ is projected to trend around 0.60 percent in 2024 and 0.50 percent in 2025, according to our econometric models.

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Australia Import Prices QoQ



Calendar GMT Actual Previous Consensus TEForecast
2023-01-27 12:30 AM Q4 1.8% 3%
2023-04-27 01:30 AM Q1 -4.2% 1.8% 0.7%
2023-07-27 01:30 AM Q2 -4.2% -1.2%

Australia Import Prices QoQ
In Australia, Import Prices correspond to the rate of change in the prices of goods and services purchased by residents of that country from, and supplied by, foreign sellers. Import Prices are heavily affected by exchange rates.
Actual Previous Highest Lowest Dates Unit Frequency
-4.20 1.80 12.80 -6.40 1981 - 2023 percent Quarterly
NSA

News Stream
Australia Import Prices Fall for 1st Time in Over 2 Years
Australia's import prices dropped by 4.2 percent quarter-on-quarter in three months to March 2023, reversing a 1.8 percent rise in three months to December 2022. It was the first decline in import prices since Q4 of 2020 due to weakening demand amid high inflation and moderating commodity prices. Main downward contributors were: petroleum, petroleum products, and related materials (-16.6%), which fell on strong global supplies and lower demand as global economic activity slowed; fertilizers (-36.0%), dragged by cooled prices for natural gas, a key input to production; and electrical machinery and apparatus (-4.7%) driven by the appreciation of the Australian dollar. Offsetting the decline was a 5.2% increase in specialized machinery caused by inflationary pressures and growing input costs through 2022 and a 1.5% gain in road vehicles, boosted by the introduction of new models at higher prices. Through the year to Q1, the import prices rose by 4.7%, easing from a 14.9% jump in Q4.
2023-04-27
Australia Import Prices Rise the Least in Near 2 Years
Australia's import prices increased by 1.8 percent quarter-on-quarter in three months to December 2022, easing from a 3.0 percent gain in three months to September. This was the eighth straight growth in costs of imports but the softest pace since Q1 2021 due to weakening demand amid global economic uncertainty. Main contributors to the rise were: electrical machinery apparatus and appliances (+3.9%), telecommunications equipment (+4.3%), and general industrial machinery (+4.1%), all driven by higher material costs, depreciation of the Australian dollar, and inflationary pressures in production. Offsetting the rise was a 3.7% fall in petroleum, petroleum products & related materials and a 42.3% fall in crude fertilizers, dragged by low global demand for sulfur and excessive supply in the market. Through the year to Q4, the import prices grew by 14.9%, after a 19.3% surge in Q3.
2023-01-27
Australia Q3 Import Prices Rise the Least in 5 Quarters
Australia's import prices rose by 3.0 percent quarter-on-quarter in Q3 of 2022, slowing from a 4.3 percent gain in Q2. This was the seventh straight quarter of growth in cost of imports but the softest pace since Q2 2021, amid softening energy prices. Main contributors to the rise were: electrical machinery apparatus and appliances (5.1%), driven by rising production costs and the depreciation of the Australian dollar; inorganic chemicals (30.1%), driven by increased production costs of caustic soda, primarily used in bauxite refining; articles of apparel and clothing (6.8%), led by higher material costs and the depreciation of local currency, and plastics in non-primary forms (28.6%), due to increased input costs. Offsetting the rise was a 2.6% drop in petroleum, petroleum products, and related materials, reflecting an easing in global oil demand. Through the year to Q3, the import prices gained 19.3%, after a 22.1% jump in Q2.
2022-10-27