ANZ Commodity Price index

-3.2 % m/m

  • prior -0.9%, revised from -1.0% m/m

+2.0% y/y

  • prior +2.2% y/y

Of the 17 commodities, 12 fell in price

In NZD terms, down 3.1% m/m

ANZ comments:

  • still high in historical terms
  • but export prices turning mixed
  • import prices will rise as global inflation pressures build

NZD off a few tics. This is a major immediate forex mover data point but should not be ignored either.

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ANZ indicator for price trends for New Zealand's 17 main commodity exports