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Commodity prices advanced further in November—Pink Sheet

December 03, 2020

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Energy prices increased 6.4% in November, with gains in coal, natural gas, and oil, the World Bank’s Pink Sheet reported. Non-energy prices jumped 4.4%.

Agricultural prices advanced 4.1% in November. Food prices were up 5.6%, led by a surge in oils and meals (+9.1%). Raw materials rose 2.1%, while beverages declined marginally (-0.4%). Fertilizer prices were flat.

Metals prices jumped 5.6% in November with all components moving higher, especially zinc (+9.5%), lead (+7.8%), aluminum (+7.2%), and copper (+5.3%). Precious metals declined 1.5%, led by gold (-1.8 %).

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

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Authors

John Baffes

Senior Agriculture Economist, Development Economics Prospects Group

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Maria Hazel Macadangdang

Research Analyst, Prospects Group, World Bank

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