Energy commodity prices increased more than 3 percent in October, a fourth consecutive monthly gain, led by a strengthening in oil, according to the World Bank’s Pink Sheet.
Agriculture prices edged lower in the month, as raw materials declined, notably natural rubber, which tumbled 12 percent. Food and beverage prices changed little. Fertilizer prices climbed over 5 percent, helped by a 12 percent jump in urea.
Metals and mineral prices advanced a modest 1 percent, led by a 5 percent uptick in lead and a 4 percent rise in copper, offsetting a 14 percent plunge in iron ore. Precious metals prices dropped 3 percent with similar fall offs for gold and silver.
The Pink Sheet is a monthly report that monitors commodity price movements.
Chart 3. Increases in industrial commodity prices in October were balanced by declines in raw material and precious metal indexes.
Nominal prices, percent changes, October over September
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Source: World Bank
Agriculture prices edged lower in the month, as raw materials declined, notably natural rubber, which tumbled 12 percent. Food and beverage prices changed little. Fertilizer prices climbed over 5 percent, helped by a 12 percent jump in urea.
Metals and mineral prices advanced a modest 1 percent, led by a 5 percent uptick in lead and a 4 percent rise in copper, offsetting a 14 percent plunge in iron ore. Precious metals prices dropped 3 percent with similar fall offs for gold and silver.
The Pink Sheet is a monthly report that monitors commodity price movements.
Chart 1. Energy and fertilizer price indexes advanced in October while raw materials and precious metals declined.
Chart 2. Industrial price indexes gained in October while agriculture was stable.
Chart 3. Increases in industrial commodity prices in October were balanced by declines in raw material and precious metal indexes.
Nominal prices, percent changes, October over September
Source: World Bank