Yesterday evening, the RBA released its commodity price index for October, which registered a 0.7% rebound in Aussie dollar terms but a 1.4% decline in SDR (currency weighted) terms:
Preliminary estimates for October indicate that the index declined by 1.4 per cent (on a monthly average basis) in SDR terms, after falling by 2.1 per cent in September (revised). The largest contributors to the decline in October were the prices of iron ore and oil. The base metals subindex declined during the month, while the rural commodities subindex increased. In Australian dollar terms, the index rose by 0.7 per cent in October.
