(RTTNews) - New Zealand’s commodity prices fell again in December, representing the fifth consecutive month of decline, a report by the ANZ Bank said Wednesday.

The ANZ Commodity Price Index dropped 7.4% month-on-month in December, at the same pace as in November. Year-on-year, the index slipped 24.4% in the month compared with an 18.3% drop in November.

The report said that apart from apples, prices of every other commodity registered a drop in December, representing the broadest monthly decline in commodity prices that was measured since the series began in 1986.

The largest fall in prices was for pelt, sliding 62% month-on-month in December, to register a record low in the month. Aluminium prices declined to a five-year low of 20%. Wool and diary prices fell in the excess of 12%. Wool prices fell for the sixth consecutive month, and is now only 2% below the lowest level recorded since 1986. Prices of wood, meat and kiwifruit also registered declines.

Meanwhile, the New Zealand dollar index dropped 6.1% month-on-month in December compared with a 1.5% drop in November. On a yearly basis, the index was down 0.1% in the month, reversing the 5.4% rise in November.

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