Index of Commodity Prices February 2010

Preliminary estimates for February indicate that the index increased by 0.6 per cent (on a monthly average basis) in SDR terms, after rising 2.5 per cent in January (revised). The largest contributors to the rise in February were increases in the prices of beef and veal, coal and iron ore in SDR terms. The prices of aluminium, copper and crude oil fell. In Australian dollar terms, the index rose by 1.9 per cent in February, following a decrease of 0.1 per cent in January (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.