FX.co ★ Australia Commodity Prices Rebound in January

In January 2026, the Reserve Bank of Australia reported a 2.6% year-over-year increase in its Index of Commodity Prices, rebounding from the revised decline of 3.2% observed in December. This recovery was primarily attributed to rising prices in gold, lithium, and agricultural commodities, which compensated for the drops seen in the prices of iron ore, oil, and coking coal. On a monthly basis, the index saw a notable acceleration, climbing by 4.6% compared to the previous month's upwardly revised increase of 1.7%. This marked the sixth consecutive month of growth, with gains across rural commodities, non-rural commodities, and base metals. Furthermore, calculated in Australian dollar terms, the index also experienced a 2.6% rise year-on-year in January.