Data for New Zealand – ANZ World Commodity Price Index

For December 2024 +0.2% m/m compared to +2.9% in November:

• NZD weakened 1.6% in December, pushing the NZD Trade Weighted Index up 3.6% m/m

Annual +15%.

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As part of the report is ANZ’s view of chipping costs:

Global shipping rates were mixed in December.

• The well-publicized but volatile Baltic Dry Index fell 10% during the month to its lowest level since mid-2023.
• The China Container Index, which measures the cost of shipping to and from China, rose 5.6%, and the Harper Peterson Index also rose slightly in December.
• Chinese New Year usually results in some shipping delays due to port workers being on leave, so reduced ship availability can put upward pressure on prices.