World on brink of commodities shock – study ...News

Food and energy prices are expected to soar, according to the World Bank Global energy prices are projected to rise dramatically, culminating in the biggest price jump in commodities in nearly half a century, the World Bank has warned. According to the bank’s April Commodity Markets Outlook report, global energy prices, which have already seen a dramatic surge due to ongoing Covid-19 lockdowns in China and the Russia-Ukraine conflict, are expected to surge by 50.5% in 2022. “This amounts to the largest commodity shock we’ve experienced since the 1970s. As was the case then, the shock is being aggravated by a surge

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