Energy commodity prices fell nearly 3 percent in May, led by a sharp decline in European natural gas prices (-12%), the World Bank Pink Sheet reported. Crude oil and coal (Australia) prices declined as well (2.5% and 5%, respectively).
Non-energy prices declined almost 2%, with losses in all major sub-indexes.
Agricultural prices declined more than 1%, with roughly equal drops in food and raw materials. Grains were the exception (the index increased 2.5%), with gains led by maize (6%).
Fertilizer prices did not change much.
Metals prices dropped nearly 4% in response to declines in all 6 base metals; the declines were partly offset by a 7% increase in iron ore.
Precious metals prices declined nearly 1% in response to a 3% decline in silver.
The Pink Sheet is a monthly report that monitors commodity price movements.
Nominal price indexes, percent changes, May over April
Major commodity price indexes
Nominal prices, percent changes, May over April