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New Zealand Commodity Price Inflation Accelerates In November

New Zealand commodity prices grew at a faster rate in November, data from ANZ Bank showed on Wednesday.

The world price index rose 4.3 percent month-on-month in November, following a 1.2 percent rise in October.

Commodity price inflation accelerated to 12.4 percent annually from 7.2 percent in the previous month.

In local currency terms, the commodity price index gained 3.5 percent on month in November after rising 1.5 percent. The New Zealand dollar Trade Weighted Index firmed 0.5 percent.

On an annual basis, commodity prices surged 18.8 percent following a 9.7 percent increase in prior month.

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