New Zealand Commodity Prices Fall Marginally
New Zealand commodity prices continued to fall in May but the pace of decline slowed notably from April, data from the ANZ showed Thursday.
The ANZ commodity price index dropped 0.1 percent on month, slower than the 1.1 percent decrease seen in April.
On a yearly basis, commodity prices decreased 9.3 percent, following a 9.2 percent fall in April.
In local currency terms, commodity prices slid 1.3 percent from April and 2.6 percent from the same period last year.
The ANZ said commodity prices have held up extremely well so far given the global market volatility, but prices are expected to ease in the months ahead.
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