The RBA has released its commodity price index for October, which registered a 9.5% jump in SDR (currency weighted) terms – the key determinant of the terms-of-trade – and a 7.9% rise in Australian dollar terms:
Preliminary estimates for October indicate that the index increased by 9.5 per cent (on a monthly average basis) in SDR terms, after increasing by 2.1 per cent in September (revised). The largest contributor to the increase in October was the price of coking coal. Both the base metals and rural subindices increased slightly in the month. In Australian dollar terms, the index rose by 7.9 per cent in October.
