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FX.co ★ Australia Q2 Import Prices Drop More than Estimated

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typeContent_19130:::2025-07-31T01:36:25

Australia Q2 Import Prices Drop More than Estimated

In the second quarter of 2025, Australia's import prices experienced a notable decrease of 0.8% compared to the previous quarter. This decline surpassed the anticipated 0.5% reduction and follows a significant 3.3% increase in the first quarter—the most rapid rise observed over the past three years. This marks the first decline in quarterly import prices since the third quarter of 2024. The primary factor behind this contraction was an 11.5% drop in prices for petroleum and related products, attributed to excessive global supply from OPEC+ and a decline in demand due to decelerating manufacturing activity and the ongoing transition towards renewable energy sources. In contrast, non-monetary gold prices saw a substantial 12.5% rise. This increase was driven by heightened demand for safe-haven assets amidst global uncertainty and central banks' continued accumulation of reserves. The attractiveness of gold was further enhanced by rate cuts from the U.S. Federal Reserve, which reduced the opportunity cost of holding the precious metal. Moreover, the prices of imported road vehicles increased by 1.3%, fueled by the rising cost of existing car models, although these gains were somewhat mitigated by the appreciation of the Australian dollar.

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