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
