RBA Commodity Index Rises in September

The Reserve Bank of Australia (RBA) Commodity Price Index increased by 1.5% on a monthly basis, after rising by a revised reading of 0.2% in August, according to preliminary estimates released by the Australian central bank on Thursday.

The non-rural, rural, and base metals sub-indices all increased in the month. In Australian Dollar (AUD) terms, the index increased by 1.1% in September.

Over the past year, the index has decreased by 5.8% in SDR terms, led by lower LNG and coal prices. The index has decreased by 8.5% in AUD terms. Using spot prices for the bulk commodities, the index increased by 1.9% in September, and by 0.6% on an annual basis.