Monday, November 03, 2008

Commodity prices: Now that's a turndown!

Pretty sharp eh? Quite different to how it looked last month.

As the RBA puts it:

Preliminary estimates for October indicate that the Index fell by 5.1 per cent (on a monthly average basis) in SDR terms, following an increase of 0.7 per cent (revised) in September. The largest contributors to the fall in October were decreases in the prices of copper, wheat, nickel and aluminium.