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.

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Australia Commodity Prices YoY


Australia Commodity Prices YoY
Commodity Prices YoY measures the yearly change in the selling price of exported commodities. Commodity exports have on average accounted for more than half of Australia's export income. Because changes in export prices explain approximately three-quarters of the fluctuations in the growth of export values since 1990, developments in export prices can have a significant impact on export earnings and economic activity in Australia. The most important commodities in the RBA Index of Commodity Prices are iron ore (27.1 percent of the total weight), metallurgical coal (16 percent), LNG (15.8 percent), thermal coal (9.5 percent), gold (7.5 percent) and alumina (4.1 percent).
Actual Previous Highest Lowest Dates Unit Frequency
-23.50 -23.90 61.10 -32.80 1983 - 2023 percent Monthly
NSA