Economic Buzz: RBA commodity price index up around 15% on year
Mumbai, Aug. 4 -- Reserve Bank of Australia (RBA) stated today that preliminary estimates for July indicate that its index of commodity prices increased by 0.6 per cent (on a monthly average basis) in SDR terms, after decreasing by 2.2 per cent in June. The non-rural and rural subindices increased in the month, while the base metals subindex decreased. In Australian dollar terms, the index increased by 1.2 per cent in July. Over the past year, the index has increased by 15.4 per cent in SDR terms. Increases have been broadly based across the prices of rural commodities, bulk commodities and base metals. The index has increased by 7.5 per cent in Australian dollar terms. Consistent with previous releases, preliminary estimates for iron ore, ...
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