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ANZ Commodity Price Index: The wrong podium for records
The ANZ Commodity Price Index for July declined by 11.2%. This is the fourth consecutive fall in the index, which is at its lowest level since October 2009 but also the largest monthly decline ever in the series. The fall this month was broad based, with thirteen of the seventeen main commodities we monitor recording a decline. The index is 26.8% lower than 12 months earlier. Dairy prices led the declines this month, falling 23.1% m/m, and fell to their lowest level in over 11 years. Whole milk powder prices were down sharply, falling 35.2% m/m. Skim milk powder and casein prices fell, down 10.7% and 9.8% ... (full story)