The high cost of fuel was the main contributer to the increase in producers’ prices in the September quarter.
Producers’ output prices went up 2.8% and input prices rose 3.7%
The wholesale trade outputs index rose 4.3 percent in the September 2008 quarter. In the year to September the wholesale trade outputs index rose 17.3 percent, the largest annual increase since the series began in the June 1994 quarter.
The wholesale trade inputs index rose 8.1 percent in the latest quarter, with higher imported crude oil prices being the major driver of this movement. In the year to the September 2008 quarter, the wholesale trade inputs index rose 25.2 percent, which is also the largest annual increase since the series began.
Increases in the price of milk at the farmgate and the price of dairy manufacturing inputs were second to fuel in contributing to the increases in the input and output indexes.
The outputs price for dairying increased 24.4% and the inputs for dairy manufacturing went up 20.2%.
Overall the PPI outputs index rose 9.8 percent and the inputs index rose 13.6 percent in the year to September.