6427.0 - Producer Price Indexes, Australia, Mar 2018 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 27/04/2018   
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MARCH KEY FIGURES

Dec Qtr 17 to Mar Qtr 18
Mar Qtr 17 to Mar Qtr 18
STAGE OF PRODUCTION
% change
% change
Final demand (excl. exports)
0.5
1.7
Domestic
0.5
1.9
Imports
0.4
0.0
Intermediate demand
1.4
3.7
Domestic
1.4
3.9
Imports
1.1
2.1
Preliminary demand
1.5
3.6
Domestic
1.6
4.0
Imports
1.2
1.9

Stage of Production Final Demand
Graph: This graph shows the level of the Stage of Production Final Demand series.

Stage of Production Final Demand, Quarterly % change
Graph: This graph shows the quarterly movements for the Stage of Production, Final Demand series



MARCH KEY POINTS


FINAL DEMAND (EXCL. EXPORTS)
  • rose 0.5% in the March quarter 2018.
  • mainly due to rises in the prices received for Electricity, gas and water supply (+3.4%), Heavy and civil engineering construction (+0.6%) and Petroleum refining and petroleum fuel manufacturing (+3.8%).
  • partly offset by falls in the prices received for Pharmaceutical and medicinal product manufacturing (-1.6%), Commercial fishing (-10.4%) and Oil and fat manufacturing (-5.5%).
  • rose 1.7% through the year to the March quarter 2018.


INTERMEDIATE DEMAND
  • rose 1.4% in the March quarter 2018.
  • mainly due to rises in the prices received for Electricity, gas and water supply (+6.8%), Petroleum refining and petroleum fuel manufacturing (+7.3%) and Oil and gas extraction (+8.2%).
  • partly offset by falls in the prices received for Textile, clothing, footwear and leather manufacturing (-2.2%), Other agriculture (-3.1%) and Other basic chemical product manufacturing (-4.6%).
  • rose 3.7% through the year to the March quarter 2018.


PRELIMINARY DEMAND
  • rose 1.5% in the March quarter 2018.
  • mainly due to rises in the prices received for Electricity, gas and water supply (+6.9%), Oil and gas extraction (+8.4%) and Petroleum refining and petroleum fuel manufacturing (+5.8%).
  • partly offset by falls in the prices received for Textile, clothing, footwear and leather manufacturing (-1.6%), Other agriculture (-3.5%) and Polymer product manufacturing (-1.4%).
  • rose 3.6% through the year to the March quarter 2018.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
June 2018 27 July 2018
September 2018 2 November 2018
December 2018 1 February 2019
March 2019 26 April 2019


ADDITIONAL INFORMATION - STAGE OF PRODUCTION INDEXES

Since September quarter 2016, there has been comparatively stronger inflation in the SOP Preliminary Demand and SOP Intermediate Demand indexes than in the SOP Final Demand index. This has intensified in the past three quarters, with differences between Final and Intermediate/Preliminary of 0.4% (September quarter 2017), 0.6% (December quarter 2017) and 1.0% in the March quarter 2018.

The past several quarters have shown significant input price pressures evident across a number of industries. However, competitive retail conditions have limited pass through of these price increases to final demand. This inability to pass through higher input prices has been evident in the supply of energy to both producers and household consumers reflected across the three stages of SOP. For example, over the course of the 2016-17 financial year, prices paid by manufacturers for natural gas increased by 9.0%, whereas household prices paid for natural gas increased by 2.8%.


ROUNDING

Any discrepancies between totals and sums of components are due to rounding.


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