The Reserve Bank of Australia published preliminary estimates showing its Index of Commodity Prices fell 1.3% in October 2026 on a monthly average basis in special drawing rights (SDR) terms, reversing September’s 0.9% increase. The rural, nonrural and base metals subindices all declined. In Australian dollar terms, the index fell 0.3% during October. Despite the monthly decline, the index remained 12.5% higher over the past year in SDR terms. Annual price increases extended across most commodities, with iron ore and alumina the exceptions. In Australian dollar terms, the index rose 4.6% over the year. The latest estimates use preliminary export prices for iron ore, coking coal, thermal coal and liquefied natural gas, based on market information. Using spot prices for bulk commodities instead, the index fell 2.1% in October in SDR terms but remained 13.9% higher over the past year.
Reserve Bank of Australia reports 1.3% fall in October commodity price index in SDR terms
The Reserve Bank of Australia’s preliminary commodity price index fell 1.3% in special drawing rights terms in October 2026, reversing a 0.9% rise in September as all three subindices declined. The index remained 12.5% higher over the year, with price increases across most commodities except iron ore and alumina. In Australian dollar terms, it fell 0.3% during October and rose 4.6% over the year.