NZ: Commodity Price Index fell 3.9% in June - ANZ

New Zealand’s ANZ World Commodity Price Index fell 3.9% m/m in June, to record its first decrease this year, notes the research team at ANZ.

Key Quotes

“Weaker dairy prices were the main culprit for the drop. The index has fallen 2.4% in the past year.”

“The fall in the index was exacerbated by the stronger New Zealand dollar resulting in the NZD Index down 4.5% m/m in June.”