The Commodity Markets Outlook in eight charts John BaffesKaltrina Temaj October 30, 2025 This page in: English Français العربية 中文 © 2026 World Bank Group,

Global commodity prices are projected to decline by about 7 percent in 2026, marking the fourth consecutive year of moderation. The continued weakness reflects subdued global economic activity, persistent trade tensions and policy uncertainty, and ample oil supplies. Energy prices are expected to fall by 10 percent in 2026 (y/y), following a projected 12 percent decline in 2025. Metals and minerals prices are anticipated to remain broadly stable, while agricultural prices are projected to edge lower amid favorable supply conditions. In contrast, precious metals prices are forecast to rise by 5 percent in 2026, extending gains after a historically large, investment-driven surge of more than 40 percent in 2025. https://blogs.worldbank.org/en/developmenttalk/the-commodity-markets-outlook-in-eight-charts2 © 2026 World Bank Group,