Financial News: New Zealand Commodity Prices Rise In October

New Zealand Commodity Prices Rise In October

11/04/2020 - 04:17:00 (RTTNews)

(RTTNews) - New Zealand commodity prices increased for the first time in three months in October, data from the ANZ bank showed on Tuesday.

The world commodity price index rose 1.9 percent monthly in October, after a decrease of 0.2 percent in September.

On a year-on-year basis, commodity prices fell 2.3 percent in October, following a 3.0 percent decline in the previous month.

In local currency terms, the commodity price index rose 2.5 percent monthly and fell 5.6 percent from the same period last year.

Data showed that global shipping costs eased and the Baltic Dry index fell in October, while dairy prices rose.

The meat and fiber index fell 1.7 percent in October, while the horticulture index, the forestry index and aluminum prices increased.

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