ANZ's indicator of price trends for New Zealand's 17 main commodity exports is now at its highest since April of 2014.
+3.3% m/m
- prior +3.6%
- 11.1+ % y/y
In local currency +2.7% m/m (not as high given the NZ Trade Weighted Index(TWI) gained a further 0.6%
- +0.1% y/y
ANZ's report on their Index includes this aside, features on the report's front page no less:
- Global shipping costs continue to appreciate as disruption to shipping schedules due to port congestion add to the cost of moving goods. The Baltic Dry Index - a lead indicator of economic conditions - lifted 15% during February. Container shortages continue and some Chinese ports are now offering incentives to shipping companies to return empty containers that have built up in North America.
Which, of course, has wider implications.
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In the recent news re NZ commodity exports ... dairy skyrocketing:
Lending support to the NZ dollar:
