The Reserve Bank of Australia’s Index of Commodity Prices increased 15.4% year-on-year in July 2026, following a downwardly revised 14.6% rise in the previous month. The annual increase was broadly supported by higher prices across rural commodities, bulk commodities, and base metals. On a monthly basis, the index rose 0.6% in July, rebounding from a 2.2% decline in the previous month, as gains in non-rural and rural commodity prices more than offset a decline in base metals.