The RBA has released its commodity price index for June, which fell by 0.2% in SDR (currency weighted) terms – the key determinant of the terms-of-trade – as well as by 0.6% in Australian dollar terms:
Preliminary estimates for June indicate that the index decreased by 0.2 per cent (on a monthly average basis) in SDR terms, after decreasing by 0.5 per cent in May (revised). The rural and base metals subindices increased in the month, while the non‑rural index decreased. In Australian dollar terms, the index decreased by 0.6 per cent in June.
