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Australian Commodity Prices Spike Up in April |
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Australian Economy |
Written by CEP News |
May 01 08 13:01 GMT |
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(CEP News) - The April Australian Commodity Price Index showed a dramatic increase of 20.7% year-over-year from previous totals, according to a press release on Thursday. This was higher than the previous 11.1% total in March. The increases are stated in Special Drawing Rates (SDR).
April annualized rural commodity prices grew by 28.6%, a decrease from the 36.5% increase seen in March. The overall monthly growth was 10.2%, a significant jump from March's -0.1% decline. In Australian dollar terms, April commodity prices gained 15.4%, up from the March total of 3%. In U.S. dollar terms, April's annual increase was 30.1% while March came in at 20.3%. By Steve Stecyk,
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, edited by Nancy Girgis,
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