New Zealand - ANZ Commodity Price index for March: -2.1% m/m (prior -2.1%)

NZ data - ANZ's indicator of price trends for New Zealand's 17 main commodity exports

• down 2.1% m/m for its fourth month down
• down 5.5% y/y

In NZD terms

• +3.3% m/m
• +6.2% y/y
• rises due to a falling NZ dollar. NZ exporters have to pay all their local biills (wages etc) in NZD, so rises in NZD terms is beneficial