AUD strengthens with high Australian Producer Price Index
21 April 2008
The Australian Producer Price Index for Q1 has come in at 1.9%, much higher than the 1.0% expected. This is the largest quarterly increase since the series began in 1998.
The increase is mainly due to price increase in building construction (+1.9%), petroleum refining (+10.5%) and electricity, gas and water (+3.1%). A reasonable decrease in the price of electronic equipment manufacturing (-2.9%) partially offset the rises in other sectors.
The PPI increased by 4.8% through the year to March quarter 2008.