World Bank Projects 23% Rise in Global Commodity Prices in 2026

The World Bank projects that global commodity prices could rise by 23% in 2026, driven by Middle East tensions, lower oil inventories and disruptions to food supplies. Energy prices are forecast to increase by 32%, with Brent crude expected to average $91 per barrel. Food prices could rise by about 10%, while fertiliser prices are projected to increase by 14%. The report warns that higher energy and food costs may worsen inflation, food insecurity and economic growth, especially in vulnerable countries. It adds that a further escalation of conflict, disruptions to Black Sea grain shipments and poor harvests could push prices even higher. Overall commodity prices are expected to ease by 7% in 2027 if major supply disruptions and conflicts do not worsen.

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