RTTN:Australian Commodity Price Growth Slows In July
(RTTNews) - Australian commodity prices increased 0.9 percent on a monthly average basis in SDR terms in July, slower than the 1.7 percent growth in June, the Reserve Bank of Australia said Tuesday.
The major contributors to the increase were increases in the price of gold and the estimated export price of thermal coal. Prices of most base metals also increased.
On the other hand, commodity prices fell 0.9 percent in July in Australian dollar terms. On a yearly basis, the index rose 10 percent with the appreciation of the exchange rate.
Over the last year, the index of commodity prices advanced 28 percent in SDR terms. Much of this rise has been due to increases in iron ore, coking coal and thermal coal export prices.
