World Bank sees commodity prices surging 23% in 2026 on Middle East war

The World Bank projects commodity prices will surge 23% in 2026, led by a 32% rise in energy as global oil supply falls 5.2% and Brent averages $92 per barrel. Food prices are seen rising just over 10%, metals 25% and precious metals 40%, while further conflict and supply disruptions could keep inflation elevated even as commodity prices ease 7% in 2027.