RBA commodity price index surges past 2008 peak

Tuesday 6 April 2021

The Reserve Bank of Australia (RBA) released its Index of Commodity Prices for the month of March, which continued its strong bull run.

Over the month of March, commodity prices rose another 1.6% in currency-weighted SDR terms, which followed the 3.1% rise in February.

Over the March quarter, the commodity price index surged by 12.5% in SDR terms, whereas they were up 28.2% over the year.

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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.