New Zealand’s commodity prices increased for the first time in six months in September, driven by the increases in dairy and aluminium prices, the results of a survey by ANZ showed Friday.
The ANZ commodity prize index climbed 5.5 percent month-over-month in September, reversing a 5.2 percent decrease in the previous month.
Dairy prices grew sharply by 15.1 percent monthly in September after falling in the previous five months. Aluminium prices also went up 2.5 percent.
At the same time, prices for other commodity groups declined in September. Meat price index went down 2.6 percent and prices in the horticulture sub-group dropped by 0.3 percent.
The NZD ANZ commodity price index surged 9.3 percent monthly in September, in contrast to a 4.0 percent fall in August.
On an annual basis, the NZD ANZ commodity price index rose 2.7 percent in September, reversing a 4.6 decrease in the preceding month.
The material has been provided by InstaForex Company – www.instaforex.com