Energy prices dropped 3% in December, led by declines in US natural gas (-25.6%), LNG (-16.3%), and oil (-8.8%), the World Bank’s Pink Sheet reported. Non-energy prices gained 1.3%.
Agricultural prices rose 0.8% in December. Food prices increased 1.2%, led by grains (+3.3%). Beverages increased 1.8% while raw materials dropped 1.4%. Fertilizer prices increased 1.7%.
Metal prices gained 2.4% in December, led by iron ore (21.5%), zinc (+2.7%), and aluminum (2.2%); tin and nickel changed little while copper declined 1.8%. Precious metal prices eased 2.6% , led by silver (-6.8%).
The Pink Sheet is a monthly report that monitors commodity price movements.
Senior Agriculture Economist, Development Economics Prospects Group