WB report shows

STAR BUSINESS REPORT

Energy prices increased 5.7 per cent globally in April, led by a 7.8 per cent hike in crude oil prices and a 3.8 per cent spike in coal prices, the World Bank’s Pink sheet reported.

The Pink Sheet is a monthly report that monitors commodity price movements.

Non-energy prices inched up 1.1 per cent.

Agricultural prices increased 2.2 per cent in April. Food prices rose 1.9 per cent, following gains in the subgroup “other food items” and grains, which were up 5.8 per cent and 3.2 per cent, respectively.

Beverages and raw materials rose 5.5 per cent and 1 per cent, respectively. Fertilizer prices eased by 1.3 per cent.

Metal prices fell just under 1 per cent in April, as declines in iron ore (-8.6 per cent) and zinc (-6.7 per cent) were offset by increases in tin, up 7.5 per cent, and nickel, an increase of 2.6 per cent.