There are two aspects:

1, currency depreciation is characterized by a decline in the purchasing power of money. For example, a catty of pork in 6 yuan two years ago is now 12 yuan;

2. For foreign exchange, there are fewer foreign currencies that can be exchanged. If the dollar depreciates against the RMB, it was 1 dollar against 8.25 RMB two years ago, and now it is 1 dollar against 6.83 RMB; (RMB appreciation in recent two years)

So if commodity prices go up, isn't the currency depreciated relatively?

Yes