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Most commodity prices declined globally in September, according to the World Bank, a relief for the import-dependent countries under pressure for higher import bills and runaway inflation.
Energy prices fell 8.1 per cent in September, led by a decrease in natural gas and crude oil prices, the World Bank’s Pink Sheet reported.
Natural gas prices were down 15.6 per cent and crude oil dropped 8.1 per cent last month. Non-energy prices fell 1.7 per cent.
The Pink Sheet is a monthly report that monitors commodity price movements.
Agricultural prices eased 0.8 per cent in September. Food prices changed little as a group as a 6.9 per cent increase in grains was balanced by a 3.8 per cent fall in edible oils, the WB said.
Beverage and raw material prices declined 0.5 per cent and 4.8 per cent, respectively. Fertiliser prices gained 6 per cent.
Metal prices dropped 5.7 per cent in September with declines across the board, except nickel. Precious metals declined 4.6 per cent, the World Bank added.
(TDS)
