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Australian export prices fell 6.4% in 3Q vs 2Q
Australian export prices fell in the third quarter, due mainly to hefty declines in the price of mineral exports like iron ore and coal, the Australia Bureau of Statistics said Thursday. The export price index fell 6.4% compared with the previous quarter and was down 13.4% from a year earlier, the ABS said. Import prices fell 2.4% during the quarter, due to a high Australian dollar exchange rate and cheaper fuels, the bureau said. Import prices were 1.2% higher than a year ago. Policymakers are keeping a close watch on the country's terms of trade, or the amount the country earns from its exports compared with the ... (full story)