Australia Commodity Prices Rise 16.9% in June

The Reserve Bank of Australia’s Index of Commodity Prices rose 16.9% year-on-year in June 2026, following an upwardly revised 18.4% jump in the previous month. The increase was driven largely by strong price growth in gold, coking oil, and rural commodities, which more than offset declines in liquefied gas (LNG) and alumina prices. On a monthly basis, the index dropped 2.2%, following a downwardly revised 1.1% growth in the prior period, weighed down by lower costs across non-rural and base metals, while rural commodities recorded increases.

The Reserve Bank of Australia’s Index of Commodity Prices jumped 16.8% year-on-year in May 2026, following a downwardly revised 15.1% rise in the previous month and remaining at its highest level since December 2022. The increase was driven primarily by strong price growth in lithium, coking coal, and rural commodities, which more than offset declines in iron ore and gold prices. On a monthly basis, the index increased 1.3%, rebounding from an upwardly revised 0.3% drop in the prior period, supported by higher prices across both rural and non-rural commodities, as well as gains in base metals.

The Reserve Bank of Australia’s Index of Commodity Prices rose by 15.7% year-on-year in April 2026, accelerating from a downwardly revised 12.7% increase in the previous month. This marked the highest reading since December 2022, as stronger price growth in rural commodities and base metals more than offset declines in liquefied natural gas and alumina. In Australian dollar terms, the index increased by 4.6%. On a monthly basis, commodity prices fell by 0.5%, reversing a 3.5% gain in March, mainly due to lower prices in both rural and non-rural subindices. In contrast, the base metals subindex continued to rise.