RBA commodity price index continues rebound

Sunday 4 March 2018

The RBA has released its commodity price index for February, which increased another 1.8% in SDR (currency weighted) terms – the key determinant of the terms-of-trade – as well as by 3.8% in Australian dollar terms:

Preliminary estimates for February indicate that the index increased by 1.8 per cent (on a monthly average basis) in SDR terms, after increasing by 7.7 per cent in January (revised). Iron ore and coking coal led the increase. The rural subindex increased in the month, while the base metals subindex declined. In Australian dollar terms, the index increased by 3.8 per cent in February.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.