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Energy prices dropped in January; non-energy inched up—Pink Sheet

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Energy prices dropped 8.9% in January, led by natural gas in Europe (-44%) and coal (-16.1%), the World Bank’s Pink sheet reported. Non-energy prices gained 1.7%, led by metals. 

Agricultural prices inched up 0.5% in January. Food prices increased 0.4% while raw materials gained 1%; beverage prices changed little. Fertilizer prices declined 6.2%, led by Urea (-14.6%) and TSP (-2.6%). 

Metal prices gained 6.0% in January, following a surge in tin (+16.5%), iron ore (+9.3%), and copper (+7.9%). Precious metals increased 4.9%, led by gold. 

 

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

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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