Yesterday evening, the Reserve Bank of Australia (RBA) released its commodity price index for June, which surged another 5.6% over the month in SDR terms (the closest correlation to the terms-of-trade) to be up a whopping 14.9% over the quarter:
Commodity price mega-boom!
The RBA’s commodity price index is now tracking at its second highest level in history just 3.7% below the all-time high recorded in June 2011.
