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New Zealand Commodity Prices Fall For Fourth Month

New Zealand's commodity prices declined for the fourth straight month in March, data from the ANZ showed on Monday.

The ANZ commodity price index declined 2.1 percent month-on-month in March, the same pace of fall as seen in February. Prices have been falling for the fourth straight months.

On a yearly basis, commodity prices decreased 5.5 percent after rising 0.6 percent in February.

Dairy prices declined 3.4 percent from previous month in March. The meat and fibre index decreased 2.0 percent and forestry index fell 0.2 percent. Aluminium prices dropped 4.5 percent, while the horticulture index remained unchanged.

In local currency terms, the commodity price index increased 3.3 percent in March, following a 0.9 percent rose in the previous month.

On a yearly basis, the commodity price index rose 6.2 percent on year in March, after a 7.1 percent increase in the prior month.

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