Energy prices rose 24.7% in June, led by a 30% increase in crude oil, the World Bank’s Pink Sheet reported. Non-energy prices jumped nearly 4% with most sub-groups moving higher.
Agricultural prices gained 2.4%, led by food (+3%) and raw materials (+1.4%). Fertilizer prices changed little, as a decline in potassium chloride (-6.3%) was balanced by an increase in phosphate rock (+2.9%).
Metals prices surged 8.3%, following increases in most components: iron ore (+10.3%), copper (+9.8%), tin (+9.3%), lead (+7.3%), aluminum (+7%), and nickel (+4%). Precious metals prices gained 2% led by a 9% increase in silver.
The Pink Sheet is a monthly report that monitors commodity price movements.
Senior Agriculture Economist, Development Economics Prospects Group
Research Analyst, Prospects Group, World Bank
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