| ''A year of big ups and downs and very little in the way of sideways'' is how the ASB New Zealand commodity price index has been described over 2014. In US dollar terms, the index had fallen 15.3% in annual terms, while the depreciating New Zealand dollar made slightly better reading in NZ-dollar terms, down 10%, rural economist Nathan Penny said.
Looking over history, the year compared favourably, with the year-index average around 8% higher than the 10-year average in NZ dollar terms and 20% higher in US dollar terms. However, the year-average masked the swing in the index's fortunes over 2014. The index started the year about 14% higher than the 10-year average in NZ dollar terms but finished it a more modest 3% ahead...............................................Full Article: Source
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