Pharma PPI increase
August 4, 2014
THE final demand producer price
index (PPI) for pharmaceutical and
medicinal product manufacturing
rose by 5.2% in the June quarter,
according to the Australian Bureau
of Statistics (ABS).
The ABS said final demand
excluding exports fell 0.1% in the
June quarter 2014, which was
partly offset by rises in the prices
received for pharmaceutical and
medicinal product manufacturing,
but rose 2.3% year on year .
Final demand measured goods
and services that were ready for
consumption, ABS said.
Final demand excluding exports
for the March quarter rose 0.9%,
which ABS said was partly offset by
a fall of 4.6% in the prices received
for pharmaceutical and medicinal
product manufacturing.
Year on year to the March quarter,
final demand excluding exports
rose 2.5%.
Medicines Australia ceo Dr
Brendan Shaw said it was difficult
to draw conclusions from one
quarter’s figures and it was
important to remember these were
not consumer prices nor prices paid
on the PBS, but prices producers in
the sector faced.
“We already know that the prices
of many medicines on the PBS
are falling and the ABS consumer
price indexes show that consumers
have been seeing some of the
largest price falls for prescription
medicines in recent times due to
PBS price disclosure.
“The most recent producer price
figures may show the growing
pressure on the sector facing, on
one side, higher costs, but on the
other side, falling prices received
from both government and
consumer.”
CLICK HERE for the June PPI
figures and HERE for the March PPI
figures.
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