Australia commodity index falls 1.3 pct in Sept -RBA

SYDNEY Tue Oct 2, 2012 2:35am EDT

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SYDNEY Oct 2 (Reuters) - The Reserve Bank of Australia's (RBA) index of commodity prices fell 1.3 percent in September, from August, when measured in special drawing rights (SDR) terms.

The drop followed a revised 2.8 percent fall in August. The largest contributors to the fall in August were declines in the prices of iron ore, coal and oil. The prices of rural commodities also declined, while prices for aluminium and gold rose in the month.

In Australian dollar terms, the index rose 0.9 percent in September, but was down 18.5 percent on the year.

The index was down 14.9 percent in SDR terms compared to last year. Much of this fall has been due to declines in the prices of coking coal and iron ore. Despite the drop, the index is still more than three times higher than where it was in the early 2000's. (Reporting by Wayne Cole)

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