Australia’s import prices decreased by 0.4% quarter-on-quarter, an improvement from the previous quarter’s decline of 0.8%. This marks a smaller contraction, indicating a moderation in the downward trend of import costs.
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The actual decline of 0.4% was slightly larger than the analyst estimate of a 0.3% decrease. This unexpected drop may exert downward pressure on sectors reliant on imported goods, such as retail and manufacturing, as lower import prices can reduce input costs. The market impact is likely to be short-term, influencing sentiment rather than altering long-term policy expectations.