The RBA Index of Commodity Prices rose 1.4% MoM in August 2025 in SDR terms (after +0.7% in July), though it remains down -4.3% YoY, reflecting lower coal prices.

• In AUD terms, the index increased 1.9% MoM in August and is up 0.1% YoY.

• Rural and non-rural subindices rose in August, while the base metals subindex declined.

• Bulk commodity spot prices lifted the index 1.4% MoM in SDR terms but remain -1.7% YoY.

• Thermal and coking coal prices continue to weigh on the annual measure, driving the overall YoY decline.