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    Home»HWWI»No further increase in commodity prices in May
    HWWI

    No further increase in commodity prices in May

    By Kloepfel20. June 2022Updated:20. June 20223 Mins Read
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    HWWI commodity price index falls but remains at high level

    • HWWI overall index fell by 2.7 % (US dollar basis)
    • Crude oil prices increased by 5.8
    • Natural gas prices decreased by 20.3
    • Overall level remains high (76.1% above May 2021)

    (Hamburg, June 15, 2022) The HWWI commodity price index fell by an average of 2.7% in May compared to the previous month. Of the three sub-indices reflected in the overall index (index for energy commodities, index for industrial commodities and index for food, beverages and tobacco), the index for industrial commodities fell by 8.2% and the index for energy commodities by 2.2% in May. The index for food, beverages and tobacco rose only very slightly by 0.3%. The declines must be seen against the background of the still very high price level for raw materials. The overall index is 76.1% higher than in May 2021 (food and beverages +26.1%, industrial raw materials -4.7%, energy raw materials +100.5%). The high price level highlights the still tense situation on the world markets, which is particularly related to the Russian war of aggression in Ukraine.

    Index for energy commodities falls slightly

    The price of crude oil rose again in May by 5.8% compared with the previous month. Compared to May 2021, the index increased by 64.6%.

    The price of coal also rose again in May (+23.2%), up 271% from May 2021.

    The gas price, on the other hand, fell by 20.3% in May. It is thus currently 141.5% higher than the year-earlier figure for May 2021.

    Overall, the energy commodities subindex fell 2.2% (euro basis: -0.1%) to 338.8 points (euro basis: 366.7 points).

    Index for industrial raw materials: Price levels continue to ease slightly

    The sub-index for industrial raw materials, which is subdivided into the index for agricultural raw materials, the index for non-ferrous metals and the index for iron ore and steel scrap, decreased by 8.2% in May compared with the previous month. This continues the slight easing from the previous month. The index for industrial raw materials is now 4.7% lower than a year earlier.

    Overall, the index for industrial raw materials fell by an average of 8.2% for the month (euro basis: -6.1%) to 156.7 points (euro basis: 169.6 points).

    Index for food, beverages and tobacco: Cereal prices continue to rise

    Unlike the sub-indices for energy and industrial raw materials, the overall index for food, beverages and tobacco continued to rise in May, but only by 0.3% compared with the previous month. The value was thus 26.1% higher than the corresponding year-earlier figure. While prices for cereals rose (3.8%), prices for oilseeds (-3.1%) and luxury foods (-1.9%) fell.

    Overall, the index for food, beverages and tobacco rose by an average of 0.3% for the month (euro basis: +2.6%) and stood at 182.4 points (euro basis: 197.1 points).

    Source: www.hwwi.org

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