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Australia Final Demand Producer Price Climb 0.5% In Q4

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Final demand producer prices advanced 0.5 percent on quarter in the fourth quarter of 2018, the Australian Bureau of Statistics said on Friday - down from 0.8 percent in the three months prior.

On a yearly basis, final demand producer prices advanced 2.0 percent, slowing from 2.1 percent in Q3.

Domestic demand was up 0.4 percent on quarter and 1.8 percent on year, while imports were up 0.6 percent on quarter and 4.0 percent on year.

The increase was mainly due to rises in the prices received for heavy and civil engineering construction (+1.0 percent), building construction (+0.4 percent) and accommodation (+3.8 percent).

They were partly offset by falls in the prices received for petroleum refining and petroleum fuel manufacturing (-10.6 percent) and bakery product manufacturing (-2.7 percent).

Intermediate demand producer prices were up 0.4 percent on quarter and 3.8 percent on year.

The increase was mainly due to rises in the prices received for textile, leather, clothing and footwear manufacturing (+1.6 percent), other agriculture (+4.9 percent) and meat and meat product manufacturing (+2.3 percent).

They were partly offset by falls in the prices received for petroleum refining and petroleum fuel manufacturing (-2.0 percent), basic non-ferrous metal manufacturing (-3.2 percent) and oil and gas extraction (-1.7 percent).

Preliminary demand producer prices gained 0.4 percent on quarter and 4.3 percent on year.

The increase was mainly due to rises in the prices received for textile, leather, clothing and footwear manufacturing (+1.6 percent), other agriculture (+4.3 percent) and other transport equipment manufacturing (+4.0 percent).

They were partly offset by falls in the prices received for petroleum refining and petroleum fuel manufacturing (-3.4 percent) and sheep, beef cattle and grain farming; and dairy cattle farming (-1.4 percent) and oil and gas extraction (-1.3 percent).

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