The Reserve Bank of Australia’s Index of Commodity Prices fell by 1.3% year-on-year in October 2025, reversing a briefly revised 0.1% increase in the previous month. The renewed decline was largely driven by lower prices for thermal coal, coking coal, and liquefied natural gas. These decreases were partly offset by higher prices for gold, iron ore, and several rural commodities. On a monthly basis, the index rose by 2.3%, picking up from a 1.9% increase in September, as non-rural and base metal subindices strengthened, while the rural subindex edged lower. In Australian dollar terms, the index was up 3.4% year-on-year in October, following a 4.4% gain recorded a month earlier.

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