Commodity Indices 2019 to 2023

Energy, all commodities, food and non-fuel commodities continued to experience year-on-year decreases in Jul 2023 (-49%, -31%, -5,1% and -2,8%). After the peak in Sep 2022, global commodity prices have been on a downward trend. It would seem that the surges elevated by the pandemic and the EU-war have dissipated somewhat. According to the World Bank’s Commodity Markets Outlook (June 2023), ongoing slowdown of the global economy continues to put a downward pressure on the commodity markets.