NZ: Commodity Price Index fell 2.8% in December – ANZ

New Zealand’s ANZ World Commodity Price Index fell 2.8% in December due to weaker prices for lamb, beef and kiwifruit, notes the research team at ANZ.

Key Quotes

“The overall index remains 9.4% higher than it was a year ago.”

“In local currency terms the fall in the index was even larger, down 5.5% m/m, due to the stronger New Zealand dollar. The NZD-TWI firmed 2.7% during December.”