Export prices in Australia were up 1.4 percent on quarter in the second quarter of 2016, the Australian Bureau of Statistics said on Thursday.

That was shy of forecasts for 3.0 percent following the 4.7 percent contraction in the previous three months.

Import prices slipped 1.0 percent on quarter versus expectations for an increase of 1.5 percent following the 3.0 percent fall in the three months prior.

On a yearly basis, export prices plummeted 8.7 percent, while import prices slipped 2.8 percent.