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The Australian Bureau of Statistics released its producer prices data on Friday. Producer prices in Australia increased 0.3% in the fourth quarter, missing expectations for a 0.6% rise, after a 0.9% gain in the third quarter.
The increase was mainly driven by rises in the prices received for building construction, other transport equipment manufacturing and sheep, beef cattle grain farming and dairy farming.
On a yearly basis, producer prices climbed 1.9% in the fourth quarter, after a 1.7% increase in the third quarter.
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