Investing.com – Australian producer prices rose less than expected in the second quarter, official data showed on Monday.
In a report, Australia's Bureau of Statistics said its producer price index rose 0.3% in the second quarter after advancing 1.0% in the first quarter.
Analysts had expected the index to advance to 1.2% in the second quarter.
The report said that the cost of motor vehicle manufacturing declined 1.2% and meat manufacturing dropped 4.3% in the second quarter.
In contrast, building construction rose 0.3% and dairy-product manufacturing advanced 3.7%.
Following the release of the data the Australian dollar was up against its U.S. counterpart, with AUD/USD gaining 0.08% to hit 0.8965.
In a report, Australia's Bureau of Statistics said its producer price index rose 0.3% in the second quarter after advancing 1.0% in the first quarter.
Analysts had expected the index to advance to 1.2% in the second quarter.
The report said that the cost of motor vehicle manufacturing declined 1.2% and meat manufacturing dropped 4.3% in the second quarter.
In contrast, building construction rose 0.3% and dairy-product manufacturing advanced 3.7%.
Following the release of the data the Australian dollar was up against its U.S. counterpart, with AUD/USD gaining 0.08% to hit 0.8965.