New Zealand: ANZ Commodity price index for April: 2.5% (prior +4.1%)

ANZ track the price of NZ's major exports

Comes in at +2.5% m/m

• Prior revised up from 1.4% to a whopping +4.1%

And +2.1% y/y

Dairy leading the way

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In NZD terms:

• +4.2% m/m and +8.4% y/y

Exporters benefitting from NZD softness.