Commodity prices (measured in U.S. dollar) continued to escalate across the board in January 2011. Energy prices rallied by 4.3%; non-energy prices increased by 5.4%. Food prices rose by 4.3%; beverages up by 4.5%; raw materials prices soared by 9.9%; base metals climb by 5.2%; fertilizer prices increased 2.4%. The US dollar depreciated 1.1% against the euro and 1.2% against a broad index of currencies.
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, Percent Changes (December 2010 to January 2011)
Source: The World Bank