RTTNews | Jan 27, 2022 07:35PM EST

19:35 Thursday, January 27, 2022 (RTTNews.com) - Final demand producer prices were up 1.3 percent on quarter in the fourth quarter of 2021, the Australian Bureau of Statistics said on Friday - accelerating from 1.1 percent in the previous three months.

Individually, prices were up for:Output of building construction (+2.9 percent), due to ongoing strong demand for housing and builders passing on rising material and labor costs.Heavy and civil engineering construction (+1.4 percent), due to rises in steel, oil and labor costs supported by increased investment.Motor vehicle and motor vehicle part manufacturing (+4.4 percent), due to ongoing shortages of semi-conductors and other components limiting production, restricting supply, and contributing to higher prices as demand for new vehicles remains strong.On a yearly basis, producer prices were up 3.7 percent, up from 2.9 percent in the three months prior.

Read the original article on RTTNews ( https://www.rttnews.com/3258102/australia-producer-prices-rise-1-3-on-quarter-in-q4.aspx)

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