The Reserve Bank of Australia’s Index of Commodity Prices dropped 3.8% year-on-year in December 2025, slipping further from an upwardly revised 1.8% fall in the previous month. This marked the third consecutive month of annual price decreases and the sharpest in the sequence, as lower costs for thermal coal, alumina, and liquified natural gas prices outweighed increases in gold and rural commodity prices. On a monthly basis, the index rose by 0.7%, marking the fifth straight month of growth, following a 1.4% gain in November, with rural, non-rural, and base metals all posting increases. In Australian-dollar terms, the index declined by 0.5% year-on-year in December.

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