Preliminary estimates for February indicate that the index increased by 0.7 per cent (on a monthly average basis) in SDR terms, after increasing by 4.9 per cent in January. The non-rural and rural subindices increased in the month, while the base metals subindex decreased slightly. In Australian dollar terms, the index decreased by 2.7 per cent in February.

Over the past year, the index has increased by 3.4 per cent in SDR terms. A decrease in the price of iron ore has been more than offset by increases in coking coal, gold and rural commodity prices. The index has decreased by 2.9 per cent in Australian dollar terms.

Consistent with previous releases, preliminary estimates for iron ore, coking coal, thermal coal and LNG export prices are being used for the most recent months, based on market information. Using spot prices for the bulk commodities index, the index increased by 0.3 per cent in February in SDR terms, to be 4.8 per cent higher over the past year.

Preliminary estimates for January indicate that the index increased by 4.6 per cent (on a monthly average basis) in SDR terms, after increasing by 1.7 per cent in December. The non-rural, rural and base metals subindices all increased in the month. In Australian dollar terms, the index increased by 2.6 per cent in January.

Over the past year, the index has increased by 2.6 per cent in SDR terms. Decreases in the prices of iron ore, oil, and coking coal have been more than offset by increases in gold, lithium and rural commodity prices. The index has decreased by 0.9 per cent in Australian dollar terms.

Consistent with previous releases, preliminary estimates for iron ore, coking coal, and LNG export prices are being used for the most recent months, based on market information. Using spot prices for the bulk commodities index, the index increased by 5.4 per cent in January in SDR terms, to be 5.3 per cent higher over the past year.

Preliminary estimates for December indicate that the index increased by 0.7 per cent (on a monthly average basis) in SDR terms, after increasing by 1.4 per cent in November. The non-rural, and base metals subindices increased in the month, while the rural sub-index decreased. In Australian dollar terms, the index decreased by 0.5 per cent in December.

Over the past year, the index has decreased by 3.8 per cent in SDR terms. Increases in gold and rural commodity prices have been more than offset by lower thermal coal, alumina, and liquified natural gas prices. The index has decreased by 4.1 per cent in Australian dollar terms.

Consistent with previous releases, preliminary estimates for iron ore, coking coal, thermal coal and LNG export prices are being used for the most recent months, based on market information. Using spot prices for the bulk commodities index, the index increased by 0.8 per cent in December in SDR terms, but remains 2.8 per cent lower over the past year.

Preliminary estimates for November indicate that the index increased by 1.4% (on a monthly average basis) in SDR terms, after increasing by 2.2% in October. The rural, non-rural, and base metals subindices increased in the month. In Australian dollar terms, the index increased by 1.5% in November.

Over the past year, the index has decreased by 1.7% in SDR terms. Increases in gold and rural commodity prices have been more than offset by lower thermal coal, alumina, and liquified natural gas prices. The index has increased by 1.7% in Australian dollar terms.

Consistent with previous releases, preliminary estimates for iron ore, coking coal, thermal coal and LNG export prices are being used for the most recent months, based on market information. Using spot prices for the bulk commodities index, the index increased by 1.4% in November in SDR terms, to be 1.6% lower over the past year.

The RBA Index of Commodity Prices rose 1.9% MoM in SDR terms in September 2025 (after +1.2% in August), leaving the annual rate flat YoY, as declines in coal and LNG offset gains in gold, iron ore, and rural commodities.

• In AUD terms, the index increased 0.7% MoM and is up 4.3% YoY, reflecting currency effects.

• The rural, non-rural, and base metals subindices all rose in September, contributing to the monthly gain.

• Using spot prices for bulk commodities, the index rose 1.6% MoM in SDR terms and is up 2.9% YoY.

• Lower thermal coal, coking coal, and LNG prices continue to weigh on the annual SDR measure, offset by stronger gold, iron ore, and rural prices.

• The YoY flat reading in SDR terms contrasts with earlier periods of stronger gains, underscoring the balancing effect of divergent commodity trends.