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(Kitco News) – Since their peak in June 2022, commodity prices have seen their biggest decline since the global economy ground to a halt at the start of the COVID-19 pandemic, according to the latest report from the World Bank.
At the same time, the international bank for central banks added that even after dropping 32% from last year”s peak, commodity prices are expected to remain above pre-pandemic levels, adding to affordability and food security concerns.
With lower economic activity weighing on commodities, the World Bank said in its updated outlook that it expects to see commodity prices fall 21% this year, compared to last year”s 45% rise. Prices are expected…
