Commodity prices (measured in U.S. dollars) were down in May 2011. Energy prices fell by 6.5% while non-energy prices declined by 4.7%. Food prices eased by 1.5%; beverages dropped by 1.7%; raw materials prices plummeted by 15.1%; metals and minerals declined by 5.9%; fertilizers up by 7.2%. The US dollar appreciated 0.9% against the euro but depreciated marginally 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 (April to May 2011)
Source: The World Bank, Prospects Group, Commodities