DECEMBER QUARTER KEY FIGURES
 | Sep Qtr 04 to Dec Qtr 04 | Dec Qtr 03 to Dec Qtr 04 |
| % change | % change |
|
| Import Price Index all groups | -1.9 | 0.4 |
| Food and live animals | -0.1 | 2.1 |
| Beverages and tobacco | -2.4 | -5.0 |
| Crude materials | -2.4 | 1.8 |
| Mineral fuels, etc. | 4.1 | 31.3 |
| Animal and vegetable oils, etc. | -3.2 | 5.8 |
| Chemicals and related products | -0.7 | 3.7 |
| Manufactured goods by material | -1.0 | 3.7 |
| Machinery and transport equipment | -3.4 | -5.1 |
| Miscellaneous manufactured articles | -2.7 | -2.8 |
| Commodities and transactions n.e.s. | 1.4 | 4.8 |
| Export Price Index all groups | -1.6 | 14.1 |
| Food and live animals | -2.2 | 7.1 |
| Beverages and tobacco | -2.6 | 2.3 |
| Crude materials | -1.5 | 13.8 |
| Mineral fuels, etc. | -1.5 | 29.5 |
| Chemicals and related products | -1.8 | 17.9 |
| Manufactured goods by material | -1.1 | 25.3 |
| Machinery and transport equipment | -1.5 | -1.2 |
| Miscellaneous manufactured articles | -1.9 | -1.7 |
|
IMPORT PRICE INDEX: all groups, Quarterly % change
| EXPORT PRICE INDEX: all groups, Quarterly % change
|
DECEMBER QUARTER KEY POINTS
IMPORT PRICE INDEX
- The Import Price Index decreased by 1.9% in the December quarter 2004, which is the first decrease since March quarter 2004. The most significant contributors to the decrease were automatic data processing parts and machines and other parts for motor vehicles. The decreases were partially driven by the appreciation of the Australian dollar against all major currencies. The most significant price increases were observed for crude petroleum oils, polyethylene, and books, pamphlets and maps.
EXPORT PRICE INDEX
- The Export Price Index decreased by 1.6% in the December quarter 2004, which is the first decrease since December quarter 2003. The most significant contributors to the decrease were crude petroleum oils, wheat and meslin, ferrous waste and scrap, and alumina. See the note below regarding pricing of crude petroleum oils. The decreases for all commodities were partially driven by the appreciation of the Australian dollar against all major currencies. The most significant price increases were observed for manganese ores and concentrates, edible offal and coal and semi-coke.
NOTES
NOTE ON PRICING OF CRUDE PETROLEUM OILS
The international trade price indexes are compiled on a basis consistent with that used for recording international merchandise trade statistics. The relevant prices are those applicable to shipments entering Australia (imports) and those that leave Australia (exports) during the reference quarter. Imports are priced on a 'free on board' (f.o.b.) country of origin basis and exports on a f.o.b. basis at the Australian port of export. Prices denominated in foreign currencies are converted to Australian dollars using market exchange rates.
Because of the time lag between when an imported item leaves a foreign port and when it arrives in Australia, the f.o.b. prices used in the compilation of the import price index will tend to relate to an earlier point in time than the prices for equivalent exports. Therefore the import price index for commodities whose prices are determined in the international marketplace, such as crude oil, will lag the export price index in reacting to changes in those global prices. Similarly, the import price index will tend to lag the export price index in reacting to changes in exchange rates. This lagging effect is illustrated in the December quarter 2004, when the import price index for crude petroleum oils recorded an increase while the equivalent export price index recorded a fall.
ROUNDING
Any discrepancies between totals and sums of components in this publication are due to rounding.
RELATED STATISTICS
For more information about statistics in this publication and about other 'ABS data available on request', contact Steve Whennan on (02) 6252 6251, or email <steve.whennan@abs.gov.au>.
INQUIRIES
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Steve Whennan on Canberra (02) 6252 6251.
Print Page
Print All