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The Australian Bureau of Statistics released its producer prices data on Friday. Producer prices in Australia decreased 0.2% in the first quarter, missing expectations for a 0.2% rise, after a 0.3% gain in the fourth quarter.
The decrease was mainly driven by falls in prices for petroleum refining and petroleum fuel manufacturing, other agriculture and pharmaceutical and medicinal product manufacturing.
On a yearly basis, producer prices climbed 1.2% in the first quarter, after a 1.9% increase in the fourth quarter.
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