Energy prices surged in July; non-energy prices mixed

Energy prices gained nearly 5% in July, following increases in all components—oil (+2.1%), coal (+16.9%), and natural gas (+18.5%), the World Bank’s Pink Sheet reported. Non-energy prices changed little as a group.

Agricultural prices declined 0.8% in July. Food prices dropped nearly 1%, led by losses in grains (-5.4%), balanced by a 1.1% gain in oils & meals. Beverages increased 2.8%, while raw materials dropped 2.1%. Fertilizer prices surged 6% , led by a 12.3% jump in urea.

Metal prices as a group changed little, as gains in lead (+6.7%), tin and nickel (+4.7% each) were balanced by losses in copper (-1.9%). Precious metals were down 2.1%, led by a nearly 5% decline in silver.

The Pink Sheet is a monthly report that monitors commodity price movements.

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Senior Agriculture Economist, Development Economics Prospects Group

Hazel Macadangdang

jahangir alam

August 23, 2021

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