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Commodity prices soared in January—Pink Sheet

February 04, 2022

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Energy prices surged 8% in January, led by coal (+16.1%), U.S. natural gas (+16.1%), and oil (+15.2%), the World Bank’s Pink Sheet reported. Non-energy prices gained 4.7%.

Agricultural prices climbed 4.2% in January. Food prices increased 5.2%, led by oils & meals (+8.7%) and grains (+4%). Beverages gained 1.4% while raw materials rose 2.6%. Fertilizer prices declined 3.6%.

Metal prices increased 7.3% in January: iron ore (+13.3%), nickel (+11.7%), aluminum (11.5%); tin and zinc (+6% each), and copper (+2.4%). Precious metal prices rose 1.7% , led by platinum (+5.2%).

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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