Energy commodity prices declined more than 3% in January, led by natural gas in Europe (-21%) and the U.S. (-9.5%) the World Bank Pink Sheet reported. Crude oil fell as well (-2.7%).
Non-energy prices increased more than 1%, led by agricultural commodities.
Agricultural prices rose 1.6% as gains in food (+2.6%) were partly balanced by declines in beverages (-1.8%).
Fertilizer fell 2.4% in response to large losses in potassium (-7.7%).
Metals prices were little changed (+0.3%), as gains in zinc (+3.6%) and iron ore (+3.4%) were balanced by declines in nickel (-2.3%).
Precious metals prices surged (+5.4%), on similarly large gains in all three components (gold, platinum, and silver).
The Pink Sheet is a monthly report that monitors commodity price movements.