The Australian Bureau of Statistics (ABS) has released export and import prices for the March quarter, which portends another much-needed increase in Australia’s terms-of-trade when the national accounts are released in early June.
According to the ABS, export prices surged by 9.4% over the March quarter and were up by 29.1% over the year, whereas import prices rose by only 1.2% over the quarter but were down by 0.6% over the year (see below table).
