The Australian Index of Commodity Prices inched up 0.4% in May when measured in special drawing rights terms on a monthly average basis, after a 1.8% decline in April, the Reserve Bank of Australia reported Monday.

The rural, non-rural, and base metals subindices all increased in the month, the report said.

In Australian dollar terms, the index fell by 1.5% in the month and by 2.9% over the past year, the central bank added.

The index fell 7.7% in special drawing rights terms compared with the past year on the back of lower iron ore and coking coal prices.

Using spot prices for the bulk commodities index, the index rose by 0.8% in special drawing rights terms in May and fell by 8.9% over the past year, per the report.