Commodity Price Index

The ANZ World Commodity Price Index rose 0.7% m/m in May, though the NZD-denominated index fell 0.3% due to currency strength. Wool and aluminium were the primary drivers of annual growth, both significantly impacted by tight global supplies.

Key Takeaways

• 1.The ANZ World Commodity Price Index rose 0.7% m/m in May, driven by broad gains across all commodity groups.
• 2.Wool prices are seeing an extraordinary surge, up 75.3% y/y, reaching their highest levels since 2011 due to tight supply.
• 3.Aluminium production in the Middle East is down 35% due to conflict-related damage, driving prices up 49.1% y/y.

Table of Contents

• May data
• Meet the team
• Important Notice

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