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WASHINGTON —Global commodity prices are expected to decline this year at the fastest clip since the onset of the COVID-19 pandemic, clouding the growth prospects of almost two-thirds of developing economies that depend on commodity exports, according
Says although food prices are expected to fall by 8pc in 2023, they will be at the second-highest level since 1975.
Says although food prices are expected to fall by 8pc in 2023, they will be at the second-highest level since 1975.
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A slowdown in global growth and concerns of an impending global recession has eased most commodity prices from their peaks. However, the shrinking value of many currencies against the U.S. dollar since the beginning of 2022 has pushed food and energy prices in domestic-currency terms even higher.