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Australia Import And Export Prices Fall In Q1

Australian import and export prices decreased in the March quarter of 2012, data from the Australian Bureau of Statistics showed Friday.

The import price index fell 1.2 percent quarter-on-quarter in three months to March, compared to economists' forecast for a 0.1 percent decrease. In the December quarter, the index recorded a 2.5 percent gain.

On an annual basis, import prices gained 2.1 percent. In the fourth quarter, import prices were up 4.7 percent annually.

At the same time, the export price index declined 7.0 percent quarter-on-quarter compared to economists' expectation of a 3.0 percent fall.

Annually, the export price index rose 1.0 percent, slower than the 14.0 percent increase in the previous three-month period.

by RTTNews Staff Writer

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