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Energy prices posted modest gains in January; non-energy eased—Pink Sheet

February 06, 2024

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Energy prices increased 1.6% in January, led by natural gas U.S. (+25.9%) and oil (+2.6%), the World Bank's Pink Sheet reported. Non-energy prices eased by 0.7%.

Agricultural prices eased 0.7% in January. Food prices decreased by 1.6%, as both grains and oils and meals declined by 1.3% and 2%, respectively. Beverages gained 1.7%, while raw materials inched up by 0.9%. Fertilizers fell by 2.9%.

Metal prices dipped 0.3% in January, led by nickel (-2.2%) and iron ore (-0.9%); lead prices gained 2.9%. Precious metals eased by 0.3%, led by silver (-4%) and platinum (-1%).

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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