RBA Index of Commodity Prices Sees Modest September Gain

The Reserve Bank of Australia's (RBA) Index of Commodity Prices saw an increase in September, according to preliminary estimates. The index rose by 1.4 per cent on a monthly average basis in Special Drawing Rights (SDR) terms, following a 0.3 per cent gain in August.

The rural, non-rural, and base metals subindices all increased during the month. In Australian dollar terms, the index rose by 1.0 per cent in September.

Over the past year, the index has grown by 15.5 per cent in SDR terms, with most commodities experiencing price increases. However, iron ore, alumina, and copper ore prices did not follow this trend, posting declines instead.