ANZ Commodity Price Index

Wednesday 14 Mar 2018

The ANZ Commodity Price Index rose 2.8% m/m in February, kicking on from the 0.7% gain in January. The lift was fairly broad-based, although the dairy group provided the major thrust, with a 6% gain.

Despite some intra-month volatility, the NZD was broadly steady against major trading partners in the month (NZD TWI up 0.3% m/m), which saw the NZD commodity price index lift 2.4%. This is the first lift in NZD prices since November.

Source: ANZ

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