4 Dec 2012

NZ commodity prices still rising

7:26 pm on 4 December 2012

New Zealand commodity prices are continuing in a positive trend.

The ANZ's Commodity Price Index rose 1% in November, the fourth consecutive monthly rise.

Ten commodities increased, four decreased, and three remained the same.

Sawn timber, whole milk powder, cheese and beef prices all rose, while sheep and venison dropped.

ANZ economist Steve Edwards says dairy prices are key to the result. He says they make up 40% of the rating and were up 1.2% overall, slightly more than the overall rise in commodity prices for the month.