Prices for imports rose 5.7 per cent in the June quarter 2026 and increased 6.2 per cent over the last 12 months, according to data released today by the Australian Bureau of Statistics (ABS).
The quarterly rise in import prices was the highest since December quarter 2021.
Rachael McCririck, ABS head of prices statistics, said: “The rise in import prices was driven by the closure of the Strait of Hormuz, which disrupted global supplies of oil, fertiliser and plastics.”
“Prices of Petroleum and related products rose 47.1 per cent in June quarter 2026, the highest quarterly rise since the Import Price Index series began in June 1983,” Ms McCririck said. Fertilisers (excluding crude) rose by 25.1 per cent and Plastics in primary forms increased by 26.3 per cent for the June quarter.
| Quarter | Petroleum and related products | Fertilisers (excluding crude) | Plastics in primary forms |
|---|---|---|---|
| Sep-16 | 56.9 | 71.9 | 116.6 |
| Dec-16 | 61.8 | 63.4 | 116.9 |
| Mar-17 | 67.8 | 72.4 | 116.4 |
| Jun-17 | 64.7 | 73.9 | 118.1 |
| Sep-17 | 63.4 | 63.2 | 125.4 |
| Dec-17 | 72.3 | 77.8 | 122.0 |
| Mar-18 | 78.6 | 75.1 | 139.9 |
| Jun-18 | 89.4 | 79.8 | 142.7 |
| Sep-18 | 94.0 | 82.8 | 142.4 |
| Dec-18 | 89.1 | 93.4 | 143.8 |
| Mar-19 | 83.0 | 92.0 | 141.0 |
| Jun-19 | 88.1 | 87.5 | 141.2 |
| Sep-19 | 83.8 | 90.6 | 137.5 |
| Dec-19 | 87.0 | 84.7 | 135.0 |
| Mar-20 | 77.3 | 79.3 | 131.0 |
| Jun-20 | 52.2 | 79.8 | 131.7 |
| Sep-20 | 54.9 | 68.8 | 122.1 |
| Dec-20 | 55.2 | 79.6 | 127.4 |
| Mar-21 | 69.7 | 80.0 | 113.6 |
| Jun-21 | 76.8 | 94.6 | 128.1 |
| Sep-21 | 86.2 | 134.9 | 129.3 |
| Dec-21 | 98.8 | 160.5 | 142.0 |
| Mar-22 | 119.0 | 212.0 | 144.8 |
| Jun-22 | 155.9 | 220.5 | 142.3 |
| Sep-22 | 151.8 | 216.3 | 170.0 |
| Dec-22 | 146.2 | 219.7 | 160.4 |
| Mar-23 | 122.0 | 140.5 | 162.2 |
| Jun-23 | 113.4 | 117.5 | 152.1 |
| Sep-23 | 124.1 | 119.1 | 141.5 |
| Dec-23 | 125.8 | 129.8 | 143.1 |
| Mar-24 | 117.7 | 130.7 | 140.5 |
| Jun-24 | 119.0 | 127.3 | 154.3 |
| Sep-24 | 109.8 | 124.3 | 148.7 |
| Dec-24 | 103.5 | 130.8 | 146.3 |
| Mar-25 | 112.0 | 144.8 | 150.2 |
| Jun-25 | 99.1 | 150.4 | 148.2 |
| Sep-25 | 102.6 | 166.1 | 140.4 |
| Dec-25 | 102.9 | 157.4 | 136.4 |
| Mar-26 | 113.0 | 161.2 | 129.4 |
| Jun-26 | 166.2 | 201.7 | 163.4 |
Offsetting the rise in imports prices was Non-monetary gold, which dropped by 9.1 per cent.
“Rising fuel prices have fuelled global inflation, strengthening the US dollar and raising interest rate expectations,” Ms McCririck said. “This has weighed on demand for gold, as investors have shifted towards interest-bearing assets.”
Prices for exports rose 1.1 per cent this quarter and 3.9 per cent over the last 12 months.
Key contributors to the rise were Coal, coke and briquettes (up 5.4 per cent), Petroleum and related products (up 22.7 per cent) and Crude fertilisers (up 20.9 per cent).
“Heightened uncertainty surrounding global gas supply increased demand for reliable alternative energy sources, driving up thermal coal prices,” Ms McCririck said.
Offsetting the rise in export prices was Non-monetary gold, which was down 8.8 per cent.
