FX.co ★ Australia Commodity Prices Rise for Second Month

The Reserve Bank of Australia’s Index of Commodity Prices increased by 3.4% year-on-year in February 2026, following an upwardly revised 2.7% rise in January. The latest gain was driven primarily by higher prices for coking coal, gold, and rural commodities, which more than offset a decline in iron ore prices. On a monthly basis, the index rose 0.7%, easing from an upwardly revised 5.0% increase in January, and marking the seventh consecutive month of growth. The advance was broad-based, with both rural and non-rural commodities posting gains, while base metal prices edged slightly lower. In Australian dollar terms, the index was also 2.7% higher than a year earlier in February.