Commodity Market Outlook: World Bank Group

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Commodity Market Outlook: World Bank Group

Recently the report ‘Commodity Market Outlook’ has been published by the World Bank.

Its key findings:

  • Energy prices have increased over the past two years. This increase has been the biggest increase since the 1973 oil crisis.
  • Price increases for food items and fertilizers have been the highest since Fertilizer production depends on natural gas as an input.
  • The rise in global food and fuel prices due to the war is likely to continue until at least the end of This can also increase the risk of inflation-induced recession.

World Bank:

  • The International Bank for Reconstruction and Development (IBRD) and the International Monetary Fund (IMF) were established together in 1944 during the Bretton Woods Conference in New Hampshire, USA.
  • The International Bank for Reconstruction and Development (IBRD) is better known as the World Bank.
  • The World Bank Group is a unique global partnership of five institutions working towards sustainable solutions that reduce poverty and build shared prosperity in developing countries.

Member: It has 189 member countries. India is also a member country.

Other reports published by World Bank-

  • Ease of Doing Business.
  • Human Capital Index.
  • World Development Report.
  • Migration and Development Brief.
  • Global Economic Prospects.

Source – The Hindu

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