Energy prices dropped 6.2% in December, led by crude oil (-10.7%), the World Bank’s Pink Sheet reported. Non-energy prices gained slightly as declines in food were offset by increases in metals.
Agricultural prices eased 0.7% in December. Food prices fell 1.5%, led by grains (-4.3%). Beverage prices changed little while raw materials gained 2.9%. Fertilizer prices declined 6.1%, led by Urea (-11.8%).
Metal prices gained 6.6% in December, led by iron ore (19.8%) as well as tin and nickel (around 13% each). Precious metals increased 5.2%, led by silver (11.0%).
The Pink Sheet is a monthly report that monitors commodity price movements.
Senior Agriculture Economist, Development Economics Prospects Group