The Reserve Bank of Australia published its preliminary May Index of Commodity Prices, showing the index increased by 1.3 per cent on a monthly average basis in SDR terms after a 0.3 per cent decline in April. In AUD terms, the index decreased by 0.1 per cent in May. Rural, non-rural and base metals subindices all increased in the month. Over the past year, the index rose 16.8 per cent in SDR terms and 6.1 per cent in AUD terms, with higher lithium, coking coal and rural commodity prices more than offsetting declines in iron ore and gold. For recent months, the series continues to use preliminary export price estimates for iron ore, coking coal, thermal coal and LNG based on market information. Using spot prices for the bulk commodities index, the index increased by 1.0 per cent in May in SDR terms and remained 18.1 per cent higher over the past year.
Reserve Bank of Australia2026-06-01
Reserve Bank of Australia reports May commodity price index rose 1.3 per cent in SDR terms
The Reserve Bank of Australia reported that its preliminary May Index of Commodity Prices rose 1.3 per cent in Special Drawing Rights terms but edged down 0.1 per cent in AUD terms, with all rural, non-rural and base metals subindices increasing. Year-on-year, the index is up 16.8 per cent in Special Drawing Rights terms and 6.1 per cent in AUD terms, driven by higher lithium, coking coal and rural prices, while iron ore and gold declined.