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Australia's Producer Prices Decline Unexpectedly

Australia's producer prices fell unexpectedly during the March quarter, the latest figures from the Australian Bureau of Statistics showed Monday.

The producer price index fell 0.3 percent quarter-on-quarter in the March quarter compared to expectations of a 0.5 percent increase. This marked the first decline since the December quarter of 2009. In the December quarter of 2011, the PPI rose 0.3 percent.

Annually, the index rose 1.4 percent, slower than forecast of a 2.2 percent rise. This followed a 2.9 percent annual increase in the December quarter.

by RTT Staff Writer

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