World Bank sees fall in commodity prices

ISLAMABAD: The World Bank projects that global commodity prices will fall 3 per cent in 2024, but the conflict in the Middle East could halt the inflationary decline.

“The World Bank commodity price index is expected to fall 4pc in 2024, following a projected decline of nearly 24pc in 2023, the sharpest drop since the pandemic”, noted the latest Commodity Markets Outlook (CMO) released on Thursday.

Energy prices are expected to decline by almost 5pc in 2024 and remain relatively stable in 2025.