The RBA Index of Commodity Prices fell -0.8% MoM in June in SDR terms, reversing May’s 0.4% MoM increase, with declines in non-rural commodities outweighing gains in rural and base metals.

• In AUD terms, the index also fell -0.8% MoM in June.
• The index is down -8.7% YoY in SDR terms, driven by lower iron ore and coking coal prices.
• In AUD terms, the index declined -3.5% YoY.
• Using spot prices for bulk commodities, the index dropped -2.2% MoM in June and is down -7.9% YoY.