RTTNews - Thursday, the ANZ Bank said its commodity price index for New Zealand rose 0.2% month-on-month in June after rising a revised 2.8% in May.

That was the fourth consecutive increase and was driven by a 13.5% rise in prices for sawn timber. Prices of eight exporting categories rose in June, but dropped in five. Dairy prices fell 3.3% and the price of kiwifruit decreased 3%.

However, on an annual basis, the index dropped 27.9% in June.

In New Zealand dollar terms, the commodity index dropped 5% month-on-month in June and 17.3% year-on-year.

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