(RTTNews) - Australia saw increases in both import and export prices for the 3rd quarter of 2008.

The Australian Bureau of Statistics reported Friday that the nation’s Import Price Index for the three months to September increased 5.0 percent over the preceding quarter. Prices for imported petroleum and related products and materials led the gain, with a category increase of 12.1 percent.

For the 12-months through September, the Import Price Index was up 9.6 percent, the largest increase since the 2nd quarter of 2001.

On the opposite side of the ledger, Australia’s Export Price Index increased 13.3 percent for the September quarter. The Statistics Bureaus said the increase was driven mainly by higher prices received for coal, coke and briquettes, which were up 69.7 percent.

For the year through September, the Export Price Index was up 32.9 percent.

The quarterly and on-year increases were the largest since the government began compiling the index in September quarter of 1974.

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Posted in Categories: Australia, Economy, Releases.

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