NZ: Sixth consecutive monthly fall in Commodity Price Index - ANZ

New Zealand’s ANZ World Commodity Price Index fell for a sixth consecutive month, but the decline of 0.6% m/m recorded in November was considerably smaller than the previous months’ falls, points out Susan Kilsby, Agriculture Economist at ANZ.

Key Quotes

“The index is 5.3% lower than a year ago. Meat was the only category to record stronger prices in November.”

“The fall in world prices was accentuated by the stronger NZD, which was up 3.4% m/m on a trade-weighted basis. This saw the NZD index down 4.4% m/m. Annual growth in the NZD index slipped into negative territory for the first time since October 2016, down 4.2%y/y.”