Assuming there will be no further worsening of geopolitical tensions, World Bank forecasts point to a 3% decline in global raw material prices in 2024 and 4% in 2025
Raw material prices are stabilizing around the world after a sharp decline, which was decisive in reducing global inflation last year. That makes it harder for central banks to quickly cut interest rates, according to the latest estimates for raw materials markets from the World Bank.
The report also warns that an escalation in the conflict in the Middle East could interrupt this decline in inflation.
Assuming there will be no further worsening of geopolitical tensions, World Bank forecasts point to a 3% decline in global raw material prices in 2024 and 4% in 2025.
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This pace will do very little to contain high inflation in most countries, the report points out.
