Import Prices

The Import Price Index measures changes in prices of imports of merchandise into Australia. They are measured on a quarterly frequency. Import prices in Australia dropped by 1.6 percent quarter-on-quarter in the third quarter of 2017, much faster than a 0.1 percent fall in the prior quarter and slightly above market consensus of a 1.5 percent decline.
Import Prices in Australia averaged 92.46 Index Points from 1981 until 2017, reaching an all-time high of 116.30 Index Points in the second quarter of 2001 and a record low of 51.50 Index Points in the third quarter of 1981. In essence the Import Prices track the change in the prices of goods and services purchased by residents of Australia from foreign sellers and they are influenced by the exchange rate of the Australian Dollar while they can indicate inflationary pressures as well in the broader economy.
The latest reading for the Import Prices in Australia was 102.10 points, lower than the previous reading of 103.80 points. As of January 2016 the Import Prices in Australia are in a downtrend, having peaked during the 4^th quarter of 2015 with a reading of 108 points. In fact the latest reading of 102.10 points is the lowest reading since the 4^th quarter of 2015. Import Prices should be compared to Export Prices for further financial analysis related to the balance of trade for Australia, which can influence significantly the Australian Dollar over time.