Australia Commodity Prices YoY

The Reserve Bank of Australia’s Index of Commodity Prices fell 6.5% year-on-year in March 2025, slowing from an upwardly revised 8.9% drop in the previous month. This marked the 25th consecutive month of falling commodity prices, but at the softest pace since August 2024, mainly due to lower prices for iron ore and coking coal. In Australian dollar terms, the index decreased by 2.8% in March 2025, easing from an 8.2% drop in the previous month. On a monthly basis, commodity prices declined by 3.2%, reversing a 0.6% rise in February 2025, with both the rural and non-rural sub-indices decreasing. However, the base metals sub-index increased. In Australian dollar terms, the index fell by 1.7% in March 2025.