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RBA commodity price index at 2-year low

Posted on 02 November 2012

Australia’s export commodity prices fell to a two-year low in October according to Reserve Bank of Australia (RBA) figures. The RBA’s index of commodity prices in October was 3.5 per cent lower in foreign currency terms compared with September, and down by 19.5 per cent from its peak in July last year.
The October level was the lowest for the index since October 2010. The index is now less than one per cent above the high point seen in September 2008, just ahead of the descent of global financial markets into crisis and consequently the slump in commodity prices that bottomed out in May 2009………………………………………..Full Article: Source


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