The Australian Bureau of Statistics reported on Friday that the final demand producer prices in Australia experienced a 0.8 percent increase in the fourth quarter of 2024. This figure fell short of the anticipated 1.0 percent growth and marked a slight decrease from the 0.9 percent rise observed in the third quarter.
Key factors contributing to the quarterly growth in final demand included property operators, with a rise of 1.5 percent, and accommodation services, which surged by 8.3 percent. However, these gains were partially offset by a significant 6.3 percent decline in prices for petroleum refining and manufacturing.
On an annual basis, producer prices rose by 3.7 percent, showing a modest decline from the 3.9 percent increase recorded in the preceding three months.
