According to the latest edition of the World Bank’s Commodity Markets Outlook, global commodity prices are expected to continue falling for the fourth consecutive year, reaching their lowest level in six years by 2026.
Prices are projected to decline by 7% in both 2025 and 2026, driven by weak global economic growth, a rising oil surplus, and persistent geopolitical uncertainty.
Falling energy prices are helping to ease global inflation, while lower rice and wheat prices are making basic food staples more affordable in several developing countries.
Despite recent declines, commodity prices remain above pre-pandemic levels, standing at 23% higher in 2025 and 14% higher in 2026 compared to 2019, the report notes.
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