Global Commodity Prices to Rise in 2026, According to World Bank Report

The World Bank Group announced that overall commodity prices will increase by 23 percent in 2026 due to global shocks such as conflicts in the Middle East, disrupted grain shipments, and El Niño. In the newly published Commodity Markets Outlook report, it is projected that energy prices will rise by 32 percent, food commodity prices by 18 percent during the 2026-2027 period, and metal prices by 25 percent.

The report states that conflicts in the Middle East have reduced oil inventories and pushed energy prices to a four-year high. Brent crude oil prices are forecast to rise from $69 a barrel in 2025 to an average of $91 in 2026, before declining to $79 in 2027. Food commodity prices are expected to increase by 10 percent in 2026 and 7 percent in 2027, recording a cumulative increase of 18 percent.

Ayhan Kose, World Bank Chief Economist and Director of the Prospects Group, stated that markets are facing multiple major shocks simultaneously, noting that rising energy costs and trade disruptions are exerting pressure on inflation, food insecurity, and economic growth. The Bank reported that it is offering $50 billion to $60 billion in financing opportunities through its existing instruments to help countries manage crises during this process.