The ANZ Commodity Price Index rose 0.7% m/m in December, largely due to the continuing comeback story of dairy prices over the second half of 2016. The December rise in the index was the eighth in a row, driving it 19% higher over the course of 2016. The NZD Commodity Price Index posted a 2.0% m/m lift in December. This was the fifth month-on-month rise in a row and the fourth monthly gain above 2%. The NZD’s continued descent against the USD and GBP in December was the key helping hand. The NZD TWI actually rose 0.1% m/m. however, implying little exporter relief elsewhere. Non-dairy commodity prices were the ... (full story)