The RBA has released its commodity price index for September, which decreased 0.1% in SDR (currency weighted) terms – the key determinant of the terms-of-trade – but rose by 2.0% in Australian dollar terms:
Preliminary estimates for September indicate that the index decreased by 0.1 per cent (on a monthly average basis) in SDR terms, after being unchanged in August (revised). The non-rural subindex increased in the month, while the rural and base metals indices decreased. In Australian dollar terms, the index increased by 2.0 per cent in September.
