The Reserve Bank of Australia reported that its commodity price index rose by a preliminary 1.4% in special drawing rights terms on a monthly average basis in September, following a 0.3% increase in August. Rural, non-rural and base metals prices all increased. In Australian dollar terms, the index gained 1.0% during the month. Over the past year, the index increased by 15.5% in special drawing rights terms and 6.6% in Australian dollar terms, with gains across most commodities except iron ore, alumina and copper ore. Using spot prices for bulk commodities, the index rose by 3.3% in September and 17.7% over the year. Estimates for recent iron ore, coking coal, thermal coal and liquefied natural gas export prices remain preliminary and are based on market information.
Reserve Bank of Australia reports 1.4% rise in commodity price index in September
The Reserve Bank of Australia’s commodity price index rose by a preliminary 1.4% in special drawing rights terms and 1.0% in Australian dollar terms in September. The index was 15.5% higher over the year in special drawing rights terms, with increases across most commodities.