New Zealand ANZ Commodity Price Index for May: -4.7% m/m

  • prior -7.4%, the biggest fall since October 2008
  • Dairy down 8.2% m/m
  • Commodity prices fall 17.8% y/y (dairy down 36% y/y !)
  • In NZD terms, -2.7% m/m & -7.9% y/y