30.04.202601:58:04UTC+00Australia Import Prices Slow in Q1

Australia’s import prices inched up 0.1% quarter-on-quarter in Q1 2026, defying market expectations of a 0.6% decline but easing from a 0.9% increase recorded in Q4 2025. The moderation was largely driven by a 5.1% fall in the cost of office and ADP equipment, reflecting the appreciation of the Australian dollar, which reduced the local currency cost of imported goods. Prices for road vehicles also slipped, down 1.1%, amid annual price adjustments for existing models.

By contrast, prices for petroleum and related products surged 9.8%, as supply disruptions stemming from the closure of the Strait of Hormuz constrained global availability and pushed oil prices higher. Non-monetary gold prices climbed 10.7%, supported by sustained demand from investors and central banks seeking safe-haven assets amid elevated geopolitical tensions and economic uncertainty. Similarly, non-ferrous metal prices jumped 16.5%, partly reflecting a rally in silver, as heightened market volatility increased demand for safe-haven assets.