RBA Commodity Price Index: January 2026
January Commodity Price Index Update
According to early estimates, the commodity price index rose by 4.6% in SDR terms on a monthly average basis for January, following a 1.7% increase in December. All major subindices—including non-rural, rural, and base metals—experienced growth during the month. When measured in Australian dollars, the index climbed by 2.6% in January.
Looking at the year as a whole, the index saw a 2.6% rise in SDR terms. While prices for iron ore, oil, and coking coal declined, these drops were outweighed by gains in gold, lithium, and rural commodities. In contrast, the index fell by 0.9% over the year when calculated in Australian dollars.
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