The RBA Index of Commodity Prices fell -3.2% MoM in March after a 0.4% MoM increase in February.

• The base metals sub-index increased in the month, while the rural and non-rural subindices both decreased.
• In Australian dollar terms, the index decreased by -1.7% MoM in March.
• Over the past year, the index has decreased by -6.5% YoY in SDR terms, led by lower iron ore and coking coal prices. The index has decreased by -2.8% YoY in Australian dollar terms.