New Delhi, Oct. 29 -- Global commodity prices are set to rise 23% in 2026, the World Bank said in its latest commodity forecasts on Wednesday. Disruptions in Black Sea grain shipments, the conflict in West Asia, and the El Niño effect have all contributed to the spike. Meanwhile, the growing demand for data centres and electric vehicles has pushed up prices of metals such as aluminium, copper and tin to record levels.

The silver lining is that commodity prices are expected to moderate in 2027. The World Bank expects commodity prices to decline 7% next year. Food prices, however, are projected to rise even in 2027. With the super El Niño threatening crops around the world, food inflation may be here to stay. These forecasts assu...