Commodity prices jump in October—Pink Sheet

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Energy prices increased 16% in October, following surges in all components—oil (+12.7%), coal (+27.6%), and natural gas, Europe (+36%), the World Bank’s Pink Sheet reported. Non-energy prices averaged 3.4% higher. 

Agricultural prices gained 1.8% in October. Food prices rose 1.4%, following increases in grains (+0.9%) and oils & meals (+4%). Beverages increased 3.5% while raw materials gained nearly 2%. Fertilizer prices surged 23.4%. 

Metal prices rose nearly 4% in October, led by zinc (+10.7%), tin (8.1%), copper (5.4%), lead (4.3%), and aluminum (3.5%); iron ore prices declined 1.3%. Precious metals prices were stable .

 

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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