The Reserve Bank of Australia's Index of Commodity Prices dropped by 23.5 percent year-on-year in July 2023, following a revised 23.9 percent decline in the previous month, primarily driven by lower prices of thermal coal, coking coal, and liquefied natural gas. The index shrank by 20.6 percent in Australian dollar terms. On a monthly basis, commodity prices decreased by 3.1 percent in SDR terms in July, with sub-indices for non-rural, rural, and base metals all experiencing a decline. source: Reserve Bank of Australia
Commodity Prices YoY in Australia averaged 4.21 percent from 1983 until 2023, reaching an all time high of 61.10 percent in July of 2021 and a record low of -32.80 percent in July of 2009. This page includes a chart with historical data for Australia Commodity Prices YoY. Australia Commodity Prices YoY - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.
Commodity Prices YoY in Australia is expected to be -21.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Commodity Prices YoY is projected to trend around 2.20 percent in 2024 and 1.40 percent in 2025, according to our econometric models.