World Bank Warns of Food Crisis Risk as Commodity Prices Set to Rise 23%
What Happened
The World Bank's October 28, 2026, Commodity Markets Outlook forecasts a 23% rise in global commodity prices this year, driven by energy shocks and supply disruptions. Energy prices are projected to increase 32%, while food commodity prices could rise 10% in 2026 and another 7% in 2027. The Bank warns that severe El Niño conditions and prolonged conflicts could trigger a food crisis.
Key Takeaways
Rising energy and agricultural costs threaten food affordability, particularly in vulnerable economies. The World Bank warns that worsening conflicts and extreme weather could push food prices further above its baseline forecasts.