RBA Index of Commodity Prices Sees Modest July Increase

The Reserve Bank of Australia (RBA) has released its Index of Commodity Prices for July 2026. According to preliminary estimates, the index increased by 0.6 percent in Special Drawing Rights (SDR) terms on a monthly average basis after decreasing by 2.2 percent in June.

In Australian dollar terms, the index rose by 1.2 percent in July. The RBA notes that over the past year, the index has increased by 15.4 percent in SDR terms and 7.5 percent in Australian dollar terms.

The increase was broadly based across the prices of rural commodities, bulk commodities, and base metals. However, the base metals subindex decreased in the month.