The World Bank Group said on Wednesday that global commodity prices are expected to jump 23% this year, driven by rising energy prices and freight shipping disruptions resulting from the ongoing war in the Middle East, issues with grain shipping across the Black Sea, and high demand for safe-haven assets such as gold.
In the latest edition of its Commodity Markets Outlook report, the World Bank added that prices of oil, natural gas, food, and metals have all risen sharply this year as global crises intensify.
