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Reuters
Reuters
Business

New Zealand commodity prices rise at slower monthly pace in June

WELLINGTON (Reuters) - Prices of New Zealand's main commodities rose at a slower pace in June compared with the previous month, with gains led by milk fat and sheep meat, ANZ Bank's commodity price index showed on Wednesday.

The index rose 2.1 percent month-on-month in June, compared with a 3.2 percent increase in May. On an annual basis, the index was 24.6 percent higher in June, compared with a 26.3 percent increase the month before.

Prices of dairy products, the country's biggest export earner, were up 2.9 percent on the month and 49 percent on the year.

In New Zealand dollar terms, the index slipped 1.6 percent on the month due to a stronger local currency, but was still up 20 percent versus a year ago.

(Reporting by Ana Nicolaci da Costa; Editing by Shri Navaratnam)

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