Index of Commodity Prices July 2026

Preliminary estimates for July indicate that the index increased by 0.6 per cent (on a monthly average basis) in SDR terms, after decreasing by 2.2 per cent in June. The non-rural and rural subindices increased in the month, while the base metals subindex decreased. In Australian dollar terms, the index increased by 1.2 per cent in July.

Over the past year, the index has increased by 15.4 per cent in SDR terms. Increases have been broadly based across the prices of rural commodities, bulk commodities and base metals. The index has increased by 7.5 per cent in Australian dollar terms.

Consistent with previous releases, preliminary estimates for iron ore, coking coal, thermal coal and LNG export prices are being used for the most recent months, based on market information. Using spot prices for the bulk commodities index, the index decreased by 0.7 per cent in July in SDR terms, but remains 15.1 per cent higher over the past year.

For further details regarding the construction of the index, please refer to ‘Changes to the RBA Index of Commodity Prices: 2013’ in the March 2013 issue of the Bulletin and ‘Weights for the Index of Commodity Prices’ (April 2026).

Details are in the attached table and graph.