Index of Commodity Prices January 2010

Preliminary estimates for January indicate that the index increased by 1.8 per cent (on a monthly average basis) in SDR terms, after rising 2.1 per cent in December (revised). The largest contributors to the rise in January were increases in the prices of sugar, copper and oil in SDR terms. In Australian dollar terms, the index fell by 0.8 per cent in January, following an increase of 3.3 per cent in December (revised).

As indicated in previous releases, preliminary estimates for iron ore, coking coal and thermal coal export prices are being used for recent months, based on market information.

For further details regarding the construction of the index, please refer to ‘Updating the RBA's Index of Commodity Prices’ in the October 2009 issue of the Bulletin.