Preliminary estimates for December indicate that the index decreased by 0.4 per cent (on a monthly average basis) in SDR terms, after increasing by 2.0 per cent in November (revised). The non-rural and base metals subindices decreased in the month, while the rural subindex increased. In Australian dollar terms, the index increased by 0.6 per cent in December.

Over the past year, the index has increased by 10.5 per cent in SDR terms, led by higher coking coal, LNG and iron ore prices. The index has increased by 15.3 per cent in Australian dollar terms.

Consistent with previous releases, preliminary estimates for iron ore, coking coal, thermal coal and LNG export prices are being used for the most recent months, based on market information. Using spot prices for the bulk commodities, the index decreased by 2.1 per cent in December in SDR terms, to be 3.2 per cent higher over the past year.