Food and energy price surges worsened by the Ukraine war could last through the end of 2024 due to disruptions in trade and production, the World Bank Group said Tuesday.
Increase in energy prices, which has reached the largest since the 1973 oil crisis, is expected to pass 50% in 2022 before easing in 2023 and 2024, the multilateral group said in its Commodity Markets Outlook. Prices for agriculture and metals are projected to increase almost 20% in 2022 before moderating at elevated levels in the following years.
