Commodity prices made further gains in December—Pink Sheet

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Energy commodity prices gained more than 3% in December, led by crude oil (+4.9%), the World Bank Pink Sheet reported. However, natural gas in the U.S. and Europe declined sharply, 15% and 10%, respectively.

Non-energy prices increased nearly 2%, reflecting gains across the board.

Agricultural prices increased 2.3%, with similar gains in the three main categories (beverages +2.4%; food +2.5%; and raw materials +1.7%).

Fertilizer prices declined 3.2% in response to large drops in TSP (-8%) and DAP (-4%).

Metals prices increased nearly 2%, led by iron ore (+9%) and tin (+5%).

Precious metals prices changed little, as a small gain in gold was balanced by a decline in silver.

The Pink Sheet is a monthly report that monitors commodity price movements.

 

Authors

John Baffes

Senior Agriculture Economist, Development Economics Prospects Group

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