Commodity prices in New Zealand dropped 4.4 percent on month in December, ANZ Bank said on Wednesday, following the 1.6 percent decline in November.
For all of 2014, commodity prices tumbled 17 percent – including a decline in each of the last 10 months.
Nine commodity prices were down in December, the bank said, while six commodity prices were unchanged and two were higher.
“Whole milk powder prices recorded the largest fall in December, falling 11 percent in the month,” said ANZ’s Steve Edwards. “Beef prices fell 10 percent over the month but remain 28% up on a year ago.”
The material has been provided by InstaForex Company – www.instaforex.com