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Australia’s commodity price index is at a decade low

Posted on 02 February 2016

Prices for Australia’s key commodity exports continued to tumble in January. The latest commodity price index from the Reserve Bank of Australia fell by 2.9% in special drawing rights terms (SDR), largely in response to weakness in iron ore and oil prices.
The decline, following a 3.85% fall in December, left the index down 25.8% from 12 months earlier. From its all time peak of 138.2, struck in July 2011, the index has now fallen by 56% in SDR terms. It now sits at the lowest level seen since October 2005………………………………………..Full Article: Source


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