Australia’s Wholesale Inflation Rose to 13-year High

An employee works at the Multi Slide Industries manufacturing plant in Adelaide, Australia, on Aug. 12, 2013. Morne de Klerk/Getty Images

Australian businesses continue to bear higher production costs as wholesale inflation reached a 13-year high in the 12 months to June, adding more pressure to the country’s inflation.

The Producer Price Index (PPI) was up 1.4 percent in the June quarter, following a 1.6 percent increase in the previous three months.