4 Sep 2008

Commodity prices fell 3.3% in August

11:22 am on 4 September 2008

New Zealand commodity prices slumped in August, showing the largest decline in the index for seven years.

The ANZ Bank Commodity Price Index fell 3.3% last month, driven mainly by a fall in international dairy prices.

Aluminium prices recorded the biggest fall, of 10.1% from the previous month.

The price of sawn timber, skins, wool, kiwifruit and beef also dropped.