Global commodity prices are projected to rise by 23% in 2026 as higher energy costs, shipping disruptions and geopolitical conflicts continue to affect international markets.
The increase reflects the impact of the ongoing Middle East conflict, disruptions to grain shipments in the Black Sea and growing demand for safe-haven assets such as gold. The World Bank has warned that these pressures could intensify inflation and weaken economic growth across several countries.
Energy and Food Prices Face Further Pressure
Global energy prices are expected to increase by 32% in 2026, reaching their highest level since Russia’s invasion of Ukraine in 2022. Meanwhile, Brent crude oil prices are forecast to average $92 per barrel as supply disruptions continue.
The World Bank expects global oil supply to fall by 5.2% this year, marking the largest decline in four decades outside the 2020 global recession. Although lower demand may limit some price increases, continued supply disruptions could keep energy costs elevated.
Food commodity prices are also expected to rise by slightly more than 10% in 2026. Further increases of over 7% are projected for 2027, potentially pushing cumulative food price growth close to 18%.
Gold and Metals Reach Higher Levels
Metal prices are projected to increase by 25% in 2026, supported by supply constraints and demand from renewable energy, electric vehicles and data centres. Aluminium, copper and tin are among the metals expected to reach record levels.
Meanwhile, precious metal prices could rise by 40% this year as investors seek protection against geopolitical and economic uncertainty. Fertiliser prices are also forecast to increase by 14%, largely because of rising urea costs.
The World Bank warned that worsening conflicts, severe El Niño conditions and further shipping disruptions could push food prices even higher. Such developments could increase food insecurity, particularly in vulnerable and heavily indebted countries.
For the latest updates, visit and follow The Truth International website (www.thetruthinternational.com) and subscribe to the YouTube Channel.
