Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

ANZ Commodity Price Index June 2000

Data Flash (New Zealand)

ANZ Commodity Price Index June 2000

ANZ Commodity Price Index
::::::::::::::::::::::::: NZD Index:::::::::::::::World
Price Index
:::::::::::::::::::: mom %::::: yoy %::::: mom %::::::::::yoy %
Dec-99::::::::::::::: +2.9:::::::::: +15.0::::::::::+2.3:::::::::: 11.0
Jan-00::::::::::::::: +0.2:::::::::: +15.1::::::::::+1.2:::::::::: +9.3
Feb-00::::::::::::::: +5.2:::::::::: +22.3::::::::::+2.0::::::::::+11.1
Mar-00::::::::::::::: +0.8:::::::::: +22.4::::::::::+0.8::::::::::+13.1
Apr-00::::::::::::::: -4.2:::::::::: +18.2::::::::::-2.8:::::::::: +8.4
May-00::::::::::::::: +4.0:::::::::: +22.2::::::::::+0.0:::::::::: +5.8
Jun-00::::::::::::::: +2.0:::::::::: +21.4::::::::::+1.2:::::::::: +7.9
Source: DB Global Markets Research, ANZ Bank

Key Points

The foreign currency price of New Zealand's commodity exports increased by 1.2% in June. The previously recorded 0.5% rise in May was revised to no change in May.

The overall rise was driven by a sharp increase in milk powder prices. Other significant increases were seen for butter, casein, aluminium, wood pulp and skins. However, a decline in prices was recorded for wool, beef, lamb, sawn timber, kiwifruit and apples.

Relative to June 1999, the foreign currency price of New Zealand's commodity exports increased 7.9%.

In NZD terms, commodity prices recorded a 2.0% increase in June and were up 21.4% on last year. The index now stands at an all time high.

Comments

The latest rise in the commodity prices is consistent with our forecast that average domestic currency export prices will have risen by over 2% qoq in Q2, significantly above RBNZ expectations. ú As the charts below show, the ANZ commodity price index has been a quite a good leading indicator of movements in tradeables inflation. Based on past relationships, a significant pick- up in tradeables inflation can be expected, consistent with our forecast of overall CPI inflation reaching 3.2% yoy by the end of the year.

This, along with an extensive range of other publications, is available on our web site http://research.gm.db.com

In order to read our research you will require the Adobe Acrobat Reader which can be obtained from their website http://www.adobe.com for free.

For answers to your EMU questions, check Deutsche Bank's EMU web site http://www.db.com/emu or email our helpline business.emu@db.com.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO:

Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>

ALSO:

Wainui: Major Infrastructure Partnership For North Auckland

Minister of Housing and Urban Development Phil Twyford and Auckland Mayor Phil Goff today announced a partnership that will fund $91 million of roading and wastewater infrastructure to support the building of 9000 homes... More>>

ALSO: