ANZ World Commodity Price Index fell 3.9% in November m/m
- -3.4% in October
- -11.5% y/y (prior -5.3%)
- In NZD terms the index -9.1% (NZD appreciated 4.6% against the Trade Weighted Index)
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As part of their report ANZ take a look at Global shipping prices. this has wider applicability:
- are starting to normalise after two years of high prices related to the freight disruptions bought about by COVID-19
- still far from plain sailing for New Zealand exporters as the costs of moving goods from NZ are still considerably higher than prior to the pandemic and there are ongoing disruptions in shipping schedules
