Energy prices gained nearly 1% in March, led by a 5.6% increase in crude oil, the World Bank’s Pink Sheet reported. Non-energy prices increased 0.8%.
Agricultural prices declined marginally in March. Food prices dropped 1%, following declines in oils and meals (-1.8%) and grains (-1.2%). Raw materials and beverages changed little. Fertilizer prices gained 4.1%.
Metal prices gained 3.6% in March, led by copper (+6.1%), aluminum (+5.4%), and iron ore & tin (+2.7% each); nickel & lead declined (-11.7% and -6.4%, respectively.) Precious metals were down 5.1%, following declines in gold and silver.
The Pink Sheet is a monthly report that monitors commodity price movements.
Senior Agriculture Economist, Development Economics Prospects Group
Hazel Macadangdang
Stable prices are conducive to people's lives and economic development!
Stable prices are conducive to people's lives and economic development!