Australian export prices rise 1.4% in September quarter as gas jumps 28.6%
Key Facts
Australia’s export price index rose 1.4% in the September quarter of 2026, the Australian Bureau of Statistics said, accelerating from quarterly increases of 1.1% in the June quarter and 0.5% in the March quarter. On an annual basis, the index rose 6.3% in the year to the September quarter, compared with a 3.9% increase in the year to the June quarter. The move came as natural and manufactured gas prices rose 28.6%, coal, coke and briquettes rose 4.8%, and cereals and cereal preparations rose 5.7%. Commodity gains were not broad-based, however, with metal ores and scrap prices falling 6.4% during the quarter. On the import side, prices fell 1.1% after rising 5.7% in the June quarter, while remaining 5.5% higher year on year.
Gas recorded the largest move among the commodities cited in the export data, with the bureau linking the increase to higher prices for petroleum gases. Oil-linked gas prices also rose following an increase in crude oil prices in the June quarter of 2026. In the year to the September quarter, natural and manufactured gas prices increased 15.7%, while coal, coke and briquettes prices rose 20.5%. The bureau attributed the coal increase to higher metallurgical coal prices amid supply constraints associated with safety inspections and production quotas at Chinese mines. Grain prices rose 5.7% in the quarter, after wheat and barley faced pressures linked to disruption to production and trade in Ukraine and Russia.
By contrast, metal ores and scrap prices fell 6.4%, as export volumes from Australia and Brazil increased. The bureau said weak construction activity in China weighed on steel production and demand for iron ore, while prices in this category recorded an annual decline of 10.0% in the year to the September quarter. Prices for exported non-monetary gold fell 4.8% during the quarter. The bureau linked this to tighter monetary policy, which increased the appeal of interest-bearing investments and reduced demand for gold. These divergent moves helped limit the impact of increases in gas, coal and grain on the overall export index.
On the import side, prices for petroleum products and related products fell 8.7% in the September quarter, while fertiliser prices, excluding crude fertilisers, dropped 20.2%. The bureau said improved global supplies following the gradual reopening of the Strait of Hormuz and lower oil prices were associated with the decline in imported petroleum product prices. The resumption of Chinese exports and easing shipping disruptions also contributed to lower fertiliser prices. In the opposite direction, prices for office and data-processing equipment rose 7.3%. The quarterly decline in the import index followed its 5.7% rise in the June quarter, while the index remained 5.5% higher year on year in the year to the September quarter.
The data came as inflation remained elevated, after the Reserve Bank of Australia raised its cash rate target by 25 basis points to 4.60% on 29 September. The bank said at the time that some of the upside risks it had flagged in August were beginning to materialise. The bank’s board said global energy prices were now much higher than assumed in its August forecasts, and that AI-related demand was driving technology goods prices sharply higher. Australia’s September Producer Price Index is scheduled for release on 30 October 2026 at 11:30 a.m. AEDT. The Monetary Policy Board will meet on 2 and 3 November, with its decision statement due on 3 November at 2:30 p.m. AEDT; the next International Trade Price Index release, for the December quarter of 2026, is scheduled for 28 January 2027.