The Reserve Bank of Australia’s preliminary estimates show its commodity price index increased by 0.6% in special drawing rights terms in July, following a 2.2% decline in June. In Australian dollar terms, the index rose by 1.2% during the month. The monthly increase reflected gains in the rural and non-rural subindices, partly offset by a decline in base metals. Over the year, the index rose by 15.4% in special drawing rights terms and 7.5% in Australian dollar terms, with gains broadly based across rural commodities, bulk commodities and base metals. The latest estimates use market-based preliminary prices for iron ore, coking coal, thermal coal and liquefied natural gas. Using spot prices for bulk commodities instead, the index fell by 0.7% in July but remained 15.1% higher over the year in special drawing rights terms.
Reserve Bank of Australia2026-08-04
Reserve Bank of Australia reports commodity price index rose 0.6% in July and 15.4% over the year
The Reserve Bank of Australia’s commodity price index rose by 0.6% in special drawing rights terms and 1.2% in Australian dollar terms in July. The index was 15.4% higher over the year in special drawing rights terms, with gains broadly based across rural commodities, bulk commodities and base metals.