RBA commodity price index rebounds as Aussies get poorer

Friday 2 September 2022

The Reserve Bank of Australia’s (RBA) index of commodity prices rebounded 2.5% in August in SDR (currency-weighted) terms, which follows July’s sharp 7.7% drop:

Over the July quarter commodity prices fell 19.7% over the quarter but were 21.7% higher year-on-year in SDR terms.

As explained by the RBA:

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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.