Export prices in Australia slipped 0.8 percent on quarter in the first three months of 2015, the Australian Bureau of Statistics said on Thursday.
That missed forecasts for a flat reading, which would have been unchanged from the previous three months.
Among the individual components, prices for minerals were down 3.5 percent on quarter, followed by crude materials (-1.7 percent), manufactured goods (-1.0 percent) and vegetable oils (-0.4 percent).
Prices were 4.6 percent higher on quarter for machinery, followed by chemicals (3.3 percent), commodities (2.0 percent), tobacco (1.7 percent) and food (0.6 percent).
On a yearly basis, export prices plummeted 12.2 percent.
Among the individual components, prices for crude materials plummeted 27.9 percent on year, followed by mineral fuels (-11.5 percent), vegetable oils (-7.9 percent) and commodities (-3.7 percent).
Prices were 9.0 percent higher for food, followed by machinery (8.3 percent), manufactured goods (7.3 percent) and chemicals (5.4 percent).
Import prices dipped 0.2 percent on quarter versus forecasts for an increase of 1.0 percent following the 0.9 percent gain in Q4.
Among the individual components, prices for minerals plummeted 22.7 percent on quarter, and commodity prices shed 3.9 percent.
Prices were higher for machinery (4.9 percent), manufactured goods (3.3 percent), chemicals (2.8 percent) and tobacco (1.1 percent).
Import prices dropped 3.0 percent on year in the first quarter.
Among the individual components, prices for minerals plunged 37.0 percent on year and commodity prices tumbled 10.8 percent.
Prices were higher for crude materials (6.3 percent), machinery (6.0 percent), food (5.1 percent and manufactured goods (3.4 percent).
Also on Thursday, the Reserve Bank of Australia said that total credit to the private sector in Australia was up 6.2 percent on year in March. That was shy of forecasts for an increase of 6.3 percent, although it was unchanged from the February reading.
On a monthly basis, total credit was up 0.5 percent – unchanged and matching forecasts.
Housing credit was up 0.6 percent on month and 7.3 percent on year, while personal credit added 0.2 percent on month and 0.9 percent on year and business credit gained 0.2 percent on month and 5.3 percent on year.
The M3 money stock added 0.4 percent on month and 7.8 percent on year, while broad money gained 0.3 percent on month and 7.8 percent on year.
The material has been provided by InstaForex Company – www.instaforex.com