FX.co ★ Australia Commodity Prices Rise 16.8% in May

The Reserve Bank of Australia’s Index of Commodity Prices rose 16.8% year-on-year in May 2026, following a downwardly revised 15.1% increase in April, and remained at its highest level since December 2022. The gain was largely driven by robust price increases in lithium, coking coal, and rural commodities, which more than offset declines in iron ore and gold. On a monthly basis, the index climbed 1.3%, rebounding from an upwardly revised 0.3% fall in the previous month, supported by higher prices across both rural and non-rural commodities, as well as stronger base metal prices.