Commodity gains
Surprising strength in commodities markets, with the Reserve Bank's index of prices up by 6.9 per cent over the year to January 2019.
In Aussie dollar terms the index was some 15½ per cent higher.
There will be plenty more where that came from next month too on a monthly average basis, with the iron ore price ballooning higher on Vale production cuts.
The strength hasn't all been due to bulk commodities for once, with LNG and alumina driving the index gains.
After years of under-investment a number of other commodity markets appear relatively tight, which perhaps combined with central bank liquidity will lead to some price inflation ahead.
