The RBA has released its commodity price index for August, which increased 1.5% in SDR (currency weighted) terms – the key determinant of the terms-of-trade – as well as by 1.8% in Australian dollar terms:
Preliminary estimates for August indicate that the index increased by 1.5 per cent (on a monthly average basis) in SDR terms, after decreasing by 0.9 per cent in July (revised). The non-rural and rural subindices increased in the month, while the base metals index decreased. In Australian dollar terms, the index increased by 1.8 per cent in August.
