New Zealand - ANZ Commodity Prices for July: -1.4% m/m (prior -3.9%)

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

-1.4% m/m

• prior -3.9%

-0.5% y/y

In NZD terms,

• -2.8% m/m and +0.3% y/y

ANZ points:

• recent fall in forestry prices weighed on the index
• dairy price movements also negative
• The fall in the index was exacerbated by the strength of the New Zealand dollar during the month of July

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ANZ's monthly update of its index of commodity prices, tracks the prices of NZ's main exports.