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Australian Commodity Prices Fall In April: RBA

An index of commodity prices in Australia declined in April, after growing modestly in the previous month, preliminary data released by the Reserve Bank of Australia showed Tuesday.

The commodity price index, in SDR terms, decreased 1.6 per cent on a monthly average basis, reversing the revised 0.5 percent gain seen in March.

The latest fall in the index was influenced primarily by a sharp decline in prices of coal, oil, gold and aluminum.

Over the past year, the index dropped 4.2 percent in SDR terms, driven mainly by falls in the prices of metallurgical coal, iron ore, aluminum and wheat, data showed.

by RTTNews Staff Writer

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