-
Commodity prices under pressure
The ANZ World Commodity Price Index fell 2.6% m/m in July. Meat, dairy and aluminium prices all fell as global demand for these commodities weakened further. In local currency terms the index fell 3.8% m/m, as the NZD appreciated 1.2% in Trade Weighted Index terms. chart Global shipping price movements were mixed in July. The Baltic Dry Index lifted during the month, whilst the Harper Peterson Global Index and the China Containerised Index both eased. Shipping prices are expected to remain relatively soft due to tighter global economic conditions reducing demand for goods, but any increase in fuel prices could put ... (full story)