Energy prices gained 5% in May, led by crude oil (6.5%) and U.S. natural gas (24.6%), the World Bank’s Pink Sheet reported. Non-energy prices declined 4.6%.
Agricultural prices eased 0.4% in May. Food prices as a group were fairly steady, with a 2.7% increase in grains partly offsetting a 1.5% decline in oils & meals. Beverages and raw materials declined 3.3% and 0.9%, respectively. Fertilizer prices plunged 12.5%, led by urea (-23.5%).
Metal prices dropped 11.3% in May, with all key metals registering declines (e.g., nickel fell 15.3% and copper 7.7%). Precious metal prices dropped 5.5%, led by silver (-10.8%).
The Pink Sheet is a monthly report that monitors commodity price movements.
Senior Agriculture Economist, Development Economics Prospects Group