Australia's export price index has decreased by 4.3% quarter-on-quarter, while the import price index has fallen by 1.4% in the same period. These declines reflect broader economic trends, including shifts in global demand and supply chain challenges.
The drop in export prices may impact the competitiveness of Australian goods on the international market, while the reduction in import prices could indicate easing inflation pressures domestically. This data highlights ongoing fluctuations in Australia's trade dynamics as the country navigates a complex global economic landscape.
Citations:
[1] https://www.statista.com/statistics/1322938/australia-import-price-index-ipi/
[2] https://tradingeconomics.com/australia/trimmed-mean-cpi-qoq
[3] https://www.bigmint.co/events/future-steel/blog/indias-scrap-imports-decline-over-25-in-h1cy24-what-lies-ahead
[4] https://www.economy.com/australia/consumer-price-index-cpi
[5] https://www.seaisi.org/details/25213?type=news-rooms
[6] https://www.steelmint.com/nwevents/future-steel/blog/global-ferrous-scrap-trade-volumes-drop-in-h1-2024-on-macroeconomic-headwinds
[7] https://gmk.center/en/news/world-scrap-trade-decreased-by-6-y-y-in-h1-2024/
[8] https://www.abs.gov.au/websitedbs/d3310114.nsf/home/consumer+price+index+faqs