Australia's import prices fell by 1.8% qoq in Q4 of 2024, reversing from a 1.1% rise in the previous quarter and marking the first drop in three quarters. Main contributors to the decline were: petroleum, petroleum products (-6.4%), dented by weak global demand offsetting supply pressures, as OPEC+ nations extend production cuts; electrical machinery and apparatus (-4.9%), as falls in some raw material prices were compounded by the appreciating Australian dollar; and medicinal and pharmaceutical products (-3.5%), due to some reports of efficiency gains in manufacturing, alongside the appreciating Australian dollar. In contrast, cost grew for telecommunications equipment (1.8%) linked to new model mobile phones being imported at significantly higher prices; and gold, non-monetary (3.8%), driven by higher demand for gold as conflicts in the Middle East lingered and central banks keep interest rates on hold. Through the year to Q1, the import prices shrank 0.7%, after a 3.1% fall in Q4. source: Australian Bureau of Statistics

Import Prices MoM in Australia decreased to -1.80 percent in the first quarter of 2024 from 1.10 percent in the fourth quarter of 2023. Import Prices MoM in Australia averaged 0.60 percent from 1981 until 2024, 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 April of 2024.

Import Prices MoM in Australia decreased to -1.80 percent in the first quarter of 2024 from 1.10 percent in the fourth quarter of 2023. Import Prices MoM in Australia is expected to be 0.60 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 0.50 percent in 2025 and 0.30 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-01 12:30 AM
Import Prices QoQ
Q4 1.1% 0.8% 0.3%
2024-04-26 01:30 AM
Import Prices QoQ
Q1 -1.8% 1.1% 0.1% -0.1%
2024-08-01 01:30 AM
Import Prices QoQ
Q2 -1.8% 0.6%


Related Last Previous Unit Reference
Commodity Prices YoY -15.30 -15.30 percent Mar 2024
CPI 137.40 136.10 points Mar 2024
Core Consumer Prices 136.04 134.69 points Mar 2024
RBA Trimmed Mean CPI YoY 4.00 4.20 percent Mar 2024
CPI Housing Utilities 148.60 147.50 points Mar 2024
CPI Transportation 131.20 130.50 points Mar 2024
Export Prices 169.50 173.10 points Mar 2024
Export Prices -2.10 5.60 percent Mar 2024
Food Inflation 3.80 4.50 percent Mar 2024
GDP Chain Price Index 108.50 106.30 points Dec 2023
GDP Deflator 109.13 107.85 points Dec 2023
Import Prices 131.70 134.10 points Mar 2024
Import Prices -1.80 1.10 percent Mar 2024
Consumer Inflation Expectations 4.60 4.30 percent Apr 2024
Inflation Rate YoY 3.60 4.10 percent Mar 2024
Inflation Rate 1.00 0.60 percent Mar 2024
TD-MI Inflation Gauge MoM 0.10 -0.10 percent Mar 2024
Monthly CPI Indicator 3.50 3.40 percent Mar 2024
PPI 0.90 0.90 percent Mar 2024
Producer Prices 129.40 128.20 points Mar 2024
PPI YoY 4.30 4.10 percent Mar 2024
Rent Inflation 7.80 7.30 percent Mar 2024
Services Inflation 4.30 4.60 percent Mar 2024
RBA Trimmed Mean CPI 1.00 0.80 percent Mar 2024
RBA Weighted Median CPI 1.10 0.90 percent Mar 2024
RBA Weighted Median CPI YoY 4.40 4.40 percent Mar 2024

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
-1.80 1.10 12.80 -6.40 1981 - 2024 percent Quarterly
NSA

News Stream
Australia Q1 Import Prices Down 1.8% QoQ
Australia's import prices fell by 1.8% qoq in Q4 of 2024, reversing from a 1.1% rise in the previous quarter and marking the first drop in three quarters. Main contributors to the decline were: petroleum, petroleum products (-6.4%), dented by weak global demand offsetting supply pressures, as OPEC+ nations extend production cuts; electrical machinery and apparatus (-4.9%), as falls in some raw material prices were compounded by the appreciating Australian dollar; and medicinal and pharmaceutical products (-3.5%), due to some reports of efficiency gains in manufacturing, alongside the appreciating Australian dollar. In contrast, cost grew for telecommunications equipment (1.8%) linked to new model mobile phones being imported at significantly higher prices; and gold, non-monetary (3.8%), driven by higher demand for gold as conflicts in the Middle East lingered and central banks keep interest rates on hold. Through the year to Q1, the import prices shrank 0.7%, after a 3.1% fall in Q4.
2024-04-26
Australia Import Prices Rise 1.1% in Q4
Australia's import prices advanced by 1.1% qoq in the three months to December 2023, following a 0.8% growth in the three months to September. It was the second straight quarter of expansion in import prices, amid rising manufacturing costs. Main upward contributors were: road vehicles (+2.7%), as price rises linked to previous manufacturing costs were passed through to importers; petroleum, petroleum products, and related materials (+1.4%), driven by supply tightness and the conflict in the Middle East putting pressure on prices early in the quarter. Meanwhile, supply concerns eased and prices fell throughout the quarter, this effect was not strong enough to offset the early price rise. Offsetting the increase was a 2.9% drop in telecommunications equipment dragged down by price falls in older model mobile phones. Through the year to Q4, the import prices dropped by 3.1%, after a 2.4% fall in Q3.
2024-02-01
Australia Import Prices Rise More than Expected
Australia's import prices climbed by 0.8% qoq in the three months to September 2023, rebounding from a 0.8% fall in three months to June, beating market forecasts of a 0.2% rise. It was the first increase in import prices in three quarters, amid rising oil prices. Main upward contributors were: petroleum, petroleum products & related materials (9.4%), due to production cuts from major oil-producing nations on top of OPEC+; and road vehicles (+1.3%), driven by small price rises passed through as demand continues to outpace supply for passenger vehicles. Offsetting the increase was an18.5% fall in inorganic chemicals, underpinned by excess supplies of caustic soda; medicinal products (-2.9%), due to falls in domestic demand; paper and related products (-8.0%), driven by easing of supply chain pressures, and telecommunications equipment (-1.6%) amid strong price falls in older model mobile phones. Through the year to Q3, the import prices shrank by 2.4%, after a 0.3% drop in Q2.
2023-10-26