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Financial News: New Zealand Commodity Prices Fall In October

New Zealand Commodity Prices Fall In October

11/05/2017 - 23:15:00 (RTTNews)

(RTTNews) - New Zealand's commodity prices decreased in October after rising in the previous month, the results of a survey by ANZ showed Monday.

The ANZ commodity price index dropped 0.3 percent month-over-month in October, reversing a 0.8 percent increase in September.

The fall in October was largely driven by a 3.1 percent decline in dairy prices.

All other major groups lifted, although there were differences at the sub-component level.

Meat and fibre prices increased 0.8 percent monthly and horticulture prices grew by 2.8 percent.

The NZD ANZ commodity price index advanced 2.5 percent from September, when it climbed by 1.7 percent.

On an annual basis, the NZD ANZ commodity price index surged 13.8 percent in October, following a 13.3 percent spike in the preceding month.

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