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RBA commodity price index at 4 year low

Posted on 01 July 2014

The prices of Australia’s export commodities headed lower in June for the sixth month in a row. That left the RBA’s commodity price index, in foreign currency terms, at its lowest level since March 2010, and 32 per cent below its July 2011 peak.
The biggest contributor to the 1.8 per cent fall in June, a repeat of the decline in May, was a drop in the price of iron ore, the RBA said. Rural commodity prices also fell, but the price of base metals rose. The RBA’s price index is based on preliminary estimates of prices received for bulk commodities in recent months………………………………………..Full Article: Source


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