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Prices for goods imported to Australia declined in the third quarter of 2009 by 3.0 percent compared to the June Quarter, according to data released Friday by the Australian Bureau of Statistics.
The Bureau said the rising value of the Australian dollar was primarily responsible for the decline in the Import Price Index, along with lower prices for imported industrial machinery and equipment.
The import price index for the September quarter were down 2.3 percent compared to one year earlier.
On the export side, the September 2009 quarter registered a decrease of 9.6 percent compared to the previous quarter, driven by falls in prices for coal, coke and briquettes, the Bureau said. The rising aussie also contributed.
For the full year to the September 2009 quarter, the Export Price Index was down 20.7 percent, which represents the largest on-year increase since record keeping began in the September 1974 quarter.
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