WASHINGTON : The report projects that energy prices will rise by 32 percent in 2026, with the average price of Brent crude oil reaching $91 per barrel, up from $69 in 2025. The forecast comes amid an expected 5.2 percent decline in global oil supplies and a 2.5 percent drop in consumption.

Food prices are projected to increase by approximately 10 percent in 2026, followed by a further 7 percent rise in 2027. Fertilizer prices are also expected to climb by 14 percent this year.

Meanwhile, the report forecasts a 25 percent increase in industrial metal prices and a 40 percent surge in precious metal prices during 2026.

Ayhan Kose is the Deputy Chief Economist of the World Bank Group and Director of the Prospects Group, warned that exposure to multiple major shocks could intensify inflation, worsen food insecurity and slow economic growth. He emphasised the importance of protecting the poorest and most vulnerable populations from the impact of rising prices.

To help countries address these challenges, the World Bank Group has made between $50 billion and $60 billion in financing available, including $25 billion in pre-arranged financing. The funding is intended to support social safety nets and provide liquidity to help mitigate the economic and social consequences of the projected price increases.

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