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Prices remained subdued in the Australian economy

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Staff Writer | January 30, 2017
Price change for goods and services produced in the Australian economy remains subdued, according to figures released by the Australian Bureau of Statistics (ABS).
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Oceania   The Australian Bureau of Statistics:
Producer Price Indexes, Stage of Production (SOP) – Final Demand rose 0.5% in the December quarter 2016.

The most significant price rises this quarter occurred in building construction (+0.7%), petroleum refining and petroleum fuel manufacturing (+12.5%) and accommodation (+5.3%).

Prices fell for electronic equipment manufacturing (-1.5%), and professional and scientific equipment manufacturing (-2.1%).

Increases in the prices of materials used for construction continue to be subdued. The Inputs to the House Construction Index recorded a 0.4% increase in the December quarter.

The combination of small rises in material costs and record low increases in the Wage Price Index (WPI) is also constraining residential construction output prices.