Energy prices soared 7.7% in February, led by crude oil (+11.5%) and U.S. natural gas (+7.5%), the World Bank’s Pink Sheet reported. Non-energy prices gained 4.2%.
Agricultural prices climbed 4.5% in February. Food prices increased 5.7%, led by oils & meals (+9.8%) and grains (+4.1%). Beverages gained nearly 2% while raw materials rose 1.7%. Fertilizer prices eased 1.9%.
Metal prices increased 4.7% in February, led by aluminum (+8%), iron ore (+7.8%), nickel (7.4%), and tin (5.2%). Precious metal prices rose 2.2%, led by platinum (+5.6%).
The Pink Sheet is a monthly report that monitors commodity price movements.
Senior Agriculture Economist, Development Economics Prospects Group