New Zealand Commodity Prices Fall In January

New Zealand's commodity prices decreased for the first time in nine months in January, though slightly, the results of a survey by ANZ showed Friday.

The ANZ commodity price index edged down 0.1 percent month-over-month in January, reversing a 0.7 percent increase in December.

Dairy prices dropped 0.4 percent over the month, due entirely to weaker whole milk powder.

Across all products, the largest fall was again in wool prices, which declined 8.6 percent in January from a month ago.

At the same time, beef and lamb prices climbed by 1.9 percent and 1.6 percent, respectively at the start of the year. Seafood prices registered an increase of 0.9 percent.

The NZD ANZ commodity price index slid 1.1 percent from December, when it grew by 2.0 percent.

On an annual basis, the NZD ANZ commodity price index rose 8.6 percent in January, following a 9.4 percent spike in the preceding month.

News are provided by InstaForex