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Most commodity prices eased in December—Pink Sheet

January 05, 2024

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Energy prices dropped 6.3% in December, led by European natural gas (-20.6%) and oil (-6.9%), the World Bank's Pink Sheet reported. Non-energy prices eased by 1.6%.

Agricultural prices inched down 1.2% in December. Food prices declined 3%, as a 2.2% increase in grains was balanced by a 4% decline in oils and meals. Beverages increased by 5.3%, while raw materials inched up by 1.1%. Fertilizers plunged 24%.

Metal prices gained 1.2% in December, led by iron ore (+4.6%) and copper (+2.6%); lead prices fell 7.4%. Precious metals rose 2.1%, led by platinum (+3.3%) and gold (+2.1%).

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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