New Zealand data – ANZ Commodity Price Index, June 2024: +1.5% m/m (prior +1.1%)

In New Zealand dollar terms, the index lifted 0.3% m/m as the NZD Trade Weighted Index rose 1.4% in June.

As part of the report are comments from ANZ on shipping prices:

Global shipping prices continued to firm over the month, particularly impacting bulky low-value goods such as logs. Global shipping routes remain subject to disruption. Ships are being forced to wait to unload due to congestion at some international ports, containers are in tight supply, and there are more sailings being cancelled. Thus far, there have not been significant disruptions to New Zealand exports and imports.

This article was written by Eamonn Sheridan at www.forexlive.com.