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Most commodity prices stabilized in February—Pink Sheet

March 06, 2024

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Energy prices increased 1.1% in February, led by oil (+3.7%), the World Bank's Pink Sheet reported. Non-energy prices changed little (+0.3%).

Agricultural prices gained 1.2% in February. Food prices eased by 1.2% following a decline in grains (-4.1%) and oils and meals (-4%). Raw materials inched up 0.8%, while beverages surged by 12.7%. Fertilizer prices increased 1.8%.

Metal prices declined 1.9% in February, led by iron ore (-8.4%) and zinc (-6.2%); tin prices rose by 3.9%. Precious metals eased by 0.7%, led by platinum (-3.4%) and silver (-1.1%).

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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