New Zealand’s commodity prices increased in February, after falling in the previous three months, the results of a survey by ANZ showed Wednesday.
The ANZ commodity price index rose 0.4 percent month-over-month in February, reversing a 2.3 percent decrease in the previous month.
Non-dairy prices grew for the first time in ten months in February by 2.3 percent. This was largely driven by sharp climbs in beef and aluminum prices.
At the same time, dairy prices dropped 2.5 percent over the month. The largest price falls occurred for wholemilk powder by 3.2 percent, followed by cheese with 2.6 percent decline.
The NZD ANZ commodity price index showed no variations in February, following a 0.4 percent fall in the preceding month.
On an annual basis, the NZD ANZ commodity price index plunged 10.4 percent in February, much faster than the 1.6 percent decrease a month earlier.
The material has been provided by InstaForex Company – www.instaforex.com