Investing.com – Producer price inflation in Australia rose less-than-expected in the fourth quarter, official data showed on Monday.
In a report, the Australian Bureau of Statistics said that PPI rose by a seasonally adjusted 0.1% in the fourth quarter, after rising by 1.3% in the preceding quarter.
Analysts had expected PPI to increase by 0.5% in the fourth quarter.
The report showed that year-on-year PPI rose at an annualized rate of 2.7% in the fourth quarter, after rising by 2.2% in the preceding quarter. Analysts had expected year-on-year PPI to rise by 3.2%.
According to the report, price collection for the fourth quarter of 2010 was not affected by the severe floods in Australia. However, the report stated that the first significant economic impact of the floods would be reflected in the March quarter of 2011.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD gaining 0.18% to hit 0.9897.
In a report, the Australian Bureau of Statistics said that PPI rose by a seasonally adjusted 0.1% in the fourth quarter, after rising by 1.3% in the preceding quarter.
Analysts had expected PPI to increase by 0.5% in the fourth quarter.
The report showed that year-on-year PPI rose at an annualized rate of 2.7% in the fourth quarter, after rising by 2.2% in the preceding quarter. Analysts had expected year-on-year PPI to rise by 3.2%.
According to the report, price collection for the fourth quarter of 2010 was not affected by the severe floods in Australia. However, the report stated that the first significant economic impact of the floods would be reflected in the March quarter of 2011.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD gaining 0.18% to hit 0.9897.