Index of Commodity Prices March 2010

Preliminary estimates for March indicate that the index increased by 3.2 per cent (on a monthly average basis) in SDR terms, after rising 1.4 per cent in February (revised). The largest contributors to the rise in March were increases in the prices of iron ore, coal and crude oil in SDR terms. The price of sugar fell. In Australian dollar terms, the index fell by 0.4 per cent in March, following an increase of 2.7 per cent in February (revised).

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.