World Bank: Global commodity prices forecast to rise 23% in 2026 as energy costs surge 32%
Global commodity prices are projected to rise 23 per cent in 2026 as conflicts, supply disruptions and weather-related risks put pressure on energy, food and metals markets, according to the World Bank Group. The projection is contained in the World Bank’s latest Commodity Markets Outlook released on October 28. Energy prices are expected to rise […]
The World Bank has forecasted a 23% increase in global commodity prices for 2026, driven by conflicts, supply disruptions, and weather-related risks. Energy prices are expected to rise by 32%, reversing a three-year trend, with Brent crude projected to average Ksh11,812 per barrel in 2026. Food commodity prices are anticipated to increase by 10% in 2026 and a further 7% in 2027.
Metal prices are forecast to rise 25% in 2026, with aluminium, copper, and tin expected to reach record levels due to demand from renewable energy, electric vehicles, and data centres, as well as supply disruptions.
Brief written by urgent.news from People Daily Kenya's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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