The World Bank has just published the latest commodity prices for October 2010. Most commodity price indices (measured in U.S. dollar) recorded large gains, partly explained by a 3.5% depreciation of the U.S. dollar against major currencies. Energy prices increased 6.3% while non-energy prices gained 3.3%. Food prices gained 6.2% while beverages increased only 0.6%. Raw materials prices rallied 7.9% (led by cotton). Metals and fertilizers prices increased 7.9% and 5.2%, respectively.
Look out for next week's posting on Global Commodity Watch which will provide indepth analysis on these prices and commodity price forecasts.
Indices of Nominal US$ Prices (2000=100)
Source: The World Bank